Supply Chain Management (SCM)
This is the process of optimizing the delivery of goods, services, and
information from the supplier to the customer. An attempt to coordinate
processes involved in producing, shipping and distributing products, generally
performed only by large corporations with large suppliers. Private Trading
Exchanges can extend Supply Chain Management to all trading partners
regardless of size because they provide a central location to integrate
information from all supply chain participants.
Example...
SCM refers to the analysis of and effort to improve a company's processes for
product and service design, purchasing, invoicing, inventory management,
distribution, customer satisfaction and other elements of the supply chain.
SCM usually refers to an effort to redesign supply chain processes in order to
achieve streamlining.
The coordinated set of techniques to plan and execute all steps in the global
network used to acquire raw materials from vendors, transform them into
finished goods, and deliver both goods and services to customers. It includes
chain-wide information sharing, planning, resource synchronization and global
performance measurements.
