SCM
Supply Chain Management (SCM) refers to the process of overseeing and coordinating the flow of goods, services, and information from the initial supplier to the final customer. It involves various activities, including sourcing raw materials, manufacturing products, and distributing them to retailers or consumers. Effective SCM aims to enhance efficiency, reduce costs, and improve customer satisfaction.
Key components of SCM include logistics, inventory management, and demand forecasting. By optimizing these elements, businesses can ensure that products are delivered on time and in the right quantities. This holistic approach helps organizations respond to market changes and maintain a competitive edge.