Supply Chain Management (SCM)

• Supply Chain Management (SCM) is the management of materials, information and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer.
• Supply Chain involves the coordination and integrating these flows both within and among companies. One ultimate goal of any effective supply chain management system is to reduce inventory (with the assumption that products are available when needed).
• Supply chain management is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. It represents a conscious effort by the supply chain firms to develop and run supply chains in the most effective & efficient ways possible. Supply chain activities cover everything from product development, sourcing, production, and logistics, as well as the information systems needed to coordinate these activities.