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Supply and demand stacked in a conceptual chain. A supply chain, sometimes expressed as a "supply-chain", [1] is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them [2] to end consumers [3] or end customers. [4] Meanwhile, supply chain management deals with the flow of ...
Supply chain management is a cross-functional approach that includes managing the movement of raw materials into an organization, certain aspects of the internal processing of materials into finished goods, and the movement of finished goods out of the organization and toward the end consumer.
A supply-chain network (SCN) is an evolution of the basic supply chain. Due to rapid technological advancement, organizations with a basic supply chain can develop this chain into a more complex structure involving a higher level of interdependence and connectivity between more organizations, this constitutes a supply-chain network. [1]
In commerce, global supply-chain management is defined as the distribution of goods and services throughout a trans-national companies' global network to maximize profit and minimize waste. [1] Essentially, global supply chain -management is the same as supply-chain management, but it focuses on companies and organizations that are trans-national.
Supply chain engineering is the engineering discipline that concerns the planning, design, and operation of supply chains. [1] [2] Some of its main areas include logistics, production, and pricing. [2] [3] It involves various areas in mathematical modelling such as operations research, machine learning, and optimization, which are usually ...
Supply chain surplus, also known as supply chain profitability, is a common term that represents value addition by supply chain function of an organization. Jonathan Birkin also defines supply chain surplus as "the difference between the revenue generated from the customers and the overall cost across that supply chain." [2]
Global supply-chain governance (SCG) is a term that originated around the mid-2000. [1] It is a governing system of rules, structures and institutions that guide, control, and lead supply chains, through policies and regulations, with the goal of creating greater efficiency. [1] Governing systems are put into place by different actors, such as ...
For a long time, the interpretation of resilience in the sense of engineering resilience prevailed in supply chain management. [1] It is implied here that supply chain is a closed system that can be controlled, similar to a system designed and planned by engineers (e.g. subway network). [5] The expectations placed on managers come close to ...
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