What is Supply Chain Management?

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In order to understand Supply Chain Management please ready the following,

Supply chain management (SCM) is the process of planning, implementing, and controlling the operations of the supply chain with the purpose to satisfy customer requirements as efficiently as possible. Supply chain management spans all movement and storage of raw materials, workin-process inventory, and finished goods from point-of-origin to point-of-consumption. In literal terms, supply chain refers to the flow of materials from their sources (suppliers) to the company and then inside the company for processing. Today the concept is much broader, including flow of materials, information, payments, and services from suppliers to factories and warehouses to end customers. This reduces uncertainty and risks in the supply chain thereby positively affecting inventory levels, cycle time, business processes.

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