Supply chain is the collection of steps that a company takes to transform raw component s into the final products for consumption of its customers. In simple terms, a supply chain is or a link between a business and its supplies and customers. It is the series of channel or stages that a product (materials or immaterial) takes from where it is produced to where it is consumed. Supply chain management is therefore about managing the linkages which supports the movement of products from a firm supplier to firm’s customers. Supply chain management (SCM) is the combination of art and science of procuring raw components in order to make a product or service and deliver it to customers. According to the Council of Supply Chain Management Professionals (CSCMP), Supply Chain Management "encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and customers. In essence, Supply Chain Management integrates supply and demand management within and across companies Supply chain management (SCM) is the management of a network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers.
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.
Definition an American professional association put forward: Supply Chain Management encompasses the planning and management of all activities involved in sourcing, procurement, conversion, and logistics management activities.´
It also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and...