Supply chain management (SCM) is the management of a network of interconnected businesses involved in the provision of product and service packages required by the end customers in a supply chain. Supply chain management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption.
Another definition is provided by the APICS Dictionary when it defines SCM as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally."
Read more about Supply Chain Management: Origin of The Term and Definitions, Problems Addressed, Activities/functions, Importance, Historical Developments, Business Process Integration, Theories, Supply Chain Centroids, Tax Efficient Supply Chain Management, Supply Chain Sustainability, Systems and Value, Global Applications, Certification
Famous quotes containing the words supply, chain and/or management:
“Artistic inspiration ignores the law of supply and demand.”
—Mason Cooley (b. 1927)
“It could not have come down to us so far,
Through the interstices of things ajar
On the long bead chain of repeated birth,
To be a bird while we are men on earth,”
—Robert Frost (1874–1963)
“People have described me as a “management bishop” but I say to my critics, “Jesus was a management expert too.””
—George Carey (b. 1935)