Supply Chain Management (SCM) is a systematic approach to managing the flow of goods, services, information, and finances across the entire supply chain, from raw materials to finished products. SCM encompasses various activities, including procurement, production, transportation, warehousing, and distribution, aimed at optimizing efficiency, reducing costs, and improving customer service. The ultimate goal of SCM is to create value for all stakeholders, including suppliers, manufacturers, distributors, retailers, and customers.
The main components of SCM include: