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Supply Chain Management |
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Supply chain management (SCM) is the process of planning, implementing and controlling the operations of the supply chain as efficiently as possible. Supply Chain Management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point-of-origin to point-of-consumption.
Typically, performance measures for supply chains are applied at the company level; one company's inventory turns might be compared to a competitor's inventory turns. However, a new concept is to apply such metrics across the entire chain to see how well the whole chain is functioning. Why are chain-wide metrics important? If you look over your entire supply chain, you get a much better view of how well you are performing relative to your competition in the eyes of the end-customer. Your partners in your supply chain might have a significant adverse impact on the delivery of goods, no matter how well optimized your own inventory/service levels are. |
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