Supply Chain Management
|1. Supply Chain Management is the coordination of physical activities that enable the flow of the products and services to the end customer.
This include sourcing and procurement of raw materials, production or procurement of products, production of finished goods, storing of raw material and finish goods, mode of delivery to customer and after sale support.
2. The coordinated set of techniques to plan and execute all steps in the global network used to acquire raw materials from vendors, transform them into finished goods, and deliver both goods and services to customers. It includes chain-wide information sharing, planning, resource synchronization and global performance measurements.
(Source: The Logistics & Supply Chain Management Society http://lscms.org/scm-dictionary)