Supply chain management refers to the coordination and management of all activities involved in the production and delivery of goods and services to customers. It encompasses the entire process from sourcing raw materials to delivering finished products to end-users. Effective supply chain management involves optimizing the flow of goods, information, and finances across all stages of the supply chain, including suppliers, manufacturers, distributors, retailers, and customers. It requires collaboration and communication among all stakeholders to ensure that the right products are delivered to the right place at the right time, while minimizing costs and maximizing efficiency. Supply chain management is critical for businesses to remain competitive in today’s global marketplace, as it enables them to respond quickly to changing customer demands, reduce lead times, improve quality, and increase profitability.
