A
supply chain is established to connect a network of organizations, individuals,
activities, technologies, and resources involved in producing and selling a
service or product designed by a company. Moreover, a supply chain's operation
commences with delivering and procuring raw materials from a supplier to an end
manufacturer. The process ends by delivering a finished service or product to
the final consumer.
Supply Chain Management
Companies are responsible for managing the exchange of goods and
services while facilitating processes that convert raw materials into final
goods. It can streamline a business's supplying activities for maximizing
consumer value and gaining a better advantage within the marketplace over
competitors. SCM demonstrates an attempt made by the suppliers to incorporate
and establish supply chains that are as extremely economical and efficient as
possible. Supply chain management works by establishing a link between
processes like shipment, distribution, and product production. Supply chain
management can allow organizations to alleviate extra costs while delivering
products to the consumers on time. It is achieved by controlling the internal
production, distribution, inventories, and sales, along with the company
vendor's inventories.
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