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A supply chain is a network of entities who create a product and deliver it to its consumer. An effective supply chain results in lower costs and faster production.
A supply chain includes all the raw materials and parts that are made into a product and distributed up the chain for manufacture and sale. In contrast, a value chain encompasses all the individual steps that are taken to create a marketable product.
A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product. A supply chain encompasses everything from the delivery of source materials from the supplier to the manufacturer through to its eventual delivery to the end user.
According to the ASCM Supply Chain Dictionary, supply chain management is the design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand, and measuring performance globally.
A supply chain transforms raw materials and components into a finished product that’s delivered to a customer. It is made up of a complex network of organizations and activities, such as raw materials suppliers, manufacturers, distributors, retailers and the customer.
What is supply chain management? Supply chain management refers to the coordination and oversight of various activities involved in the production, distribution, and delivery of goods or services from their source to the end consumer.
A supply chain is a collection of suppliers required to create one specific product for a company. The chain is made up of nodes or “links,” which can include multiple manufacturers for parts, then the completed product, then the warehouse where it is stored, then its distribution centers, and finally, the store where a consumer can purchase it.
In its simplest form, a supply chain is the activities required to deliver goods or services to the consumer. A supply chain focuses on the core activities within your organisation to convert raw materials or component parts into finished products or services.
At the most fundamental level, supply chain management (SCM) is management of the flow of goods, data, and finances related to a product or service, from the procurement of raw materials to the delivery of the product at its final destination.
: the chain of processes, businesses, etc. by which a commodity is produced and distributed : the companies, materials, and systems involved in manufacturing and delivering goods.