Fundamentals Of Supply Chain Management
Complete Guide to the Fundamentals of Supply Chain Management
1. What is Supply Chain Management?
Supply Chain Management (SCM) is the centralized management of the flow of goods, services, information, and finances from raw material suppliers to the final customer. It involves coordinating and integrating all activities—from procurement to production to delivery—to create value, achieve operational efficiency, and satisfy customer demand.
Returns Management: Handling defective or excess merchandise through "reverse logistics". fundamentals of supply chain management
F. Pricing
- Definition: How a company charges for its goods and services.
- Impact: Pricing influences demand, which in turn dictates optimal supply chain response (e.g., everyday low pricing creates stable demand vs. promotions create peaks).
Planning: Forecasting demand and aligning resources to prevent waste. Complete Guide to the Fundamentals of Supply Chain
