Supply chain management is the process of overseeing and controlling the flow of goods and services from the initial sourcing of raw materials to the delivery of finished products to customers. This process involves several interconnected activities, all aimed at improving efficiency, reducing costs, and satisfying customers.
Why Supply Chain Management Matters
Supply chain management is vital for any business involved in producing or distributing goods. Here are key reasons why it matters:
Cost Efficiency: Effective Supply Chain Management helps reduce costs by minimizing waste and optimizing resource use.
Operational Efficiency: It ensures smooth operations, leading to quicker production and timely deliveries.
Customer Satisfaction: Ensuring products reach customers on time and in perfect condition enhances satisfaction and loyalty.
Core Elements of Supply Chain Management
