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:
“Has God’s supply of tolerable husbands
Fallen, in fact, so low?
Or do I always over-value woman
At the expense of man?
Do I?
It might be so.”
—Robert Graves (1895–1985)
“From Nature’s chain whatever link you strike,
Tenth or ten thousandth, breaks the chain alike.”
—Alexander Pope (1688–1744)
“The Management Area of Cherokee
National Forest, interested in fish,
Has mapped Tellico and Bald Rivers
And North River, with the tributaries
Brookshire Branch and Sugar Cove Creed:
A fishy map for facile fishery....”
—Allen Tate (1899–1979)