Supply Chain Management (SCM):
Supply Chain Management (SCM):
What does this term stand for?
Supply Chain Management is the strategic coordination, planning, and control of all supply chain activities, including procurement, production, storage, transportation, and distribution. SCM integrates logistics, technology, supplier management, and performance monitoring to maximize efficiency, reduce costs, improve service levels, and respond to market changes. Effective SCM enables visibility across the entire supply chain, minimizes disruptions, ensures quality, and supports sustainable practices.
Characteristics:
- Coordinates all supply chain activities
- Optimizes efficiency and cost
- Improves service and reliability
- Integrates technology and logistics
- Enables risk management
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