Supply chain management is the integration of business management from end user through original suppliers that supply products, service and information that adds value to the customer. The scope of the supply chain can be determined in the number of firms involved and the activities and the functions involved.
Supply management can be defined as the management of a business from the end user to the suppliers of products, services and information. To achieve this there is a number of processes that are required
-Working with business leaders who have identified a business need or requirement to identify, source, contract, and procure the needed good or service from qualified suppliers
-Managing supplier performance
-Implementing technologies, processes, policies, and procedures to support the purchasing process (Supplier Relationship Management).
-The supplier relationship management process: a process for providing the structure for how relationships with suppliers will be developed and maintained.
-Economic theories of supply and demand
Supply management is generally thought of as a systematic business process that includes more functions than traditional buying, such as coordinating inbound and internal pre-production logistics and managing inventory.
Supply management generally deals with the oversight and management of materials and services inputs, management of the suppliers who provide those inputs, and support of the process of acquiring those inputs. The performance of supply management departments and supply management professionals is commonly measured in terms of amount of money saved for the organization. risk