Supply Chain Management (SCM)
Supply chain management is the handling of the entire production flow of a good or service — starting from the raw components all the way to delivering the final product to the consumer. A company creates a network of suppliers (“links” in the chain) that move the product along from the suppliers of raw materials to those organizations that deal directly with users.
Benefits of SCM
- Ability to integrate throughout the supply chain
- Real-time and collaboration capabilities
- Process optimization
- Analytics and forecasting