Supply chain optimization is the application of processes and tools to ensure the optimal operation of a manufacturing and distribution supply chain. This includes the optimal placement of inventory within the supply chain, minimizing operating costs (including manufacturing costs, transportation costs, and distribution costs). This often involves the application of mathematical modelling techniques using computer software.
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Famous quotes containing the words supply and/or chain:
“If you have great talents, industry will improve them: if you have but moderate abilities, industry will supply their deficiency.”
—Sir Joshua Reynolds (1723–1792)
“Man ... cannot learn to forget, but hangs on the past: however far or fast he runs, that chain runs with him.”
—Friedrich Nietzsche (1844–1900)