Supply Chain Management (SCM)
The management and coordination of a product's supply chain for the purpose of increasing efficiency and profitability. Investopedia Says:
Typically, SCM will attempt to centrally control or link the production, shipment and distribution of a product. By managing the supply chain, companies are able to cut excess fat and provide products faster. This is done by keeping tighter control of internal inventories, internal production, distribution, sales and the inventories of the company's product purchasers. Related Terms:
Bottleneck
Do It Right The First Time - DRIFT
Inventory
Just In Time - JIT
Logistics
Product Recall
Supply Chain |