Supply Chain Management: Crucial Aspects

Supply Chain Management

Supply chain management is a process of optimizing the flow of goods and services for an organization. Supply chain management involves streamlining all processes to turn raw materials into final goods. The main aim of this process is to boost customer value and retain a competitive edge in the market, meaning supply chain management is an integral function for all manufacturing entities.

Another definition of supply chain management is the management of logistics to ensure the smooth flow of goods and services across locations. As per this definition, supply chain management covers finished goods, raw material, work in process, and their movement from one point to another. For better functioning, companies often categorize it as local supply chain management and international supply chain management, as they both present different dynamics.