The Importance of Supply Chain Management

Supply chain management (SCM) is very important and effective to all companies. David Simchi-Levi, Philip Kaminsky, and Edith Simchi-Levi defines supply chain management as “a set of approaches utilized to efficiently integrate suppliers, manufacturers, warehouses, and stores, so that merchandise is produced and distributed at the right quantities, to the right locations, and at the right time, in order to minimize systemwide costs while satisfying service level requirements.” Supply chain management, also called logistics network, includes suppliers, industrialized centers, warehouses, distributions centers, and retail outlets, as well as unprocessed materials, work-in-progress stock, and finished goods that run linking the facilities. SCM is all about having the right product in the right place, at the right price, at the right time and in the right condition. A good way to explain supply chain management is to use a worldwide......

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Title: Importance Of Supply Chain Management
Approximate Word Count: 938
Approximate Pages: 4 (250 words per double-spaced page)

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