What do you mean by supply chain management?

Question

Accepted Answer

Supply chain management involves the coordination and optimization of processes involved in the production and distribution of goods and services.

Involves planning, sourcing, manufacturing, and delivering products to customers
Focuses on efficiency, cost reduction, and customer satisfaction
Includes activities such as inventory management, logistics, and supplier relationships
Examples: Walmart's efficient supply chain management allows for low prices and quick restocking of products
Examples: Amazon's supply chain management involves advanced technology for fast delivery and customer convenience

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