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Supply Chain Management

Definitions of Supply Chain Management:

• Supply Chain Management is the management of the entire value-added chain, from the supplier to manufacturer right through to the retailer and the final customer. SCM has three primary goals: Reduce inventory, increase the transaction speed by exchanging data in real-time, and increase sales by implementing customer requirements more efficiently.

• The coordinated set of techniques to plan and execute all steps in the global network used to acquire raw materials from vendors, transform them into finished goods, and deliver both goods and services to customers. It includes chain-wide information sharing, planning, resource synchronization and global performance measurements.
• An attempt to coordinate processes involved in producing, shipping and distributing products, generally with large suppliers. Net markets can extend supply chain management to all trading partners regardless of size because they provide a central hub to integrate information from buyers and sellers.
• Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer.
• The control of the supply of Parts from vendor through to customer. There is no fundamental difference in principle between Supply Chain Management and Manufacturing Resource Planning. SCM is also used to refer to short cycle manufacturing, which are the manufacturing elements of Just in Time.
• The delivery of customer and economic value through integrated management of the flow of physical goods and associated information, from raw materials sourcing to delivery of finished products to consumers.

• Inter-company planning control and monitoring of central functions such as procurement, production and sales to increase their efficiency.

· The offering of complete logistics solutions tailored to the industry-specific needs of particular customers and covering the entire logistics chain.

• Looks at the entire supply chain of a company to optimize the flow of information and materials between internal and external suppliers, production, distributors and customers.
• SCM is an integration of business that processes from the end user through original suppliers that provide products, services, and information that add value for customers.
• 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.
• The process of developing, producing and transporting products to customers.
• Supply chain management (SCM) deals with the planning and execution issues involved in managing a supply chain.

What is supply chain management?

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