Supply Chain Management Practices

Supply Chain Management (SCM) involves coordinating and optimizing all steps involved in producing and delivering products, from raw materials to customers. It includes sourcing materials, manufacturing, inventory management, transportation, and distribution. Effective SCM ensures products are available when needed, costs are controlled, and quality is maintained. It requires collaboration among suppliers, manufacturers, and retailers to improve efficiency and responsiveness. The goal is to create a smooth flow of goods and information, reducing delays and costs while meeting customer demands. Good SCM balances supply and demand, helping companies stay competitive and responsive in dynamic markets.