Supply management

Supply management is the strategic process of overseeing the procurement, logistics, and inventory of goods and services within an organization. It involves sourcing quality materials, negotiating with suppliers, maintaining optimal stock levels, and ensuring timely delivery to meet operational needs. Effective supply management reduces costs, minimizes waste, and ensures the smooth functioning of business activities. It also includes assessing risks, establishing strong supplier relationships, and implementing processes to adapt to changing market conditions, ultimately supporting overall organizational efficiency and competitiveness.