What is your understanding of Supply Chain Management (SCM)?

Question

Accepted Answer

Supply Chain Management (SCM) involves the coordination and optimization of all activities involved in the sourcing, procurement, production, and logistics of a product.

SCM focuses on the efficient flow of goods and services from the point of origin to the point of consumption.
It includes planning, sourcing, making, delivering, and returning products in a way that maximizes customer value and achieves a competitive advantage.
Examples of SCM activities include inventory management, supplier relationship management, and demand forecasting.
SCM aims to streamline processes, reduce costs, improve quality, and enhance customer satisfaction.