Supply Chain Management (SCM)

Supply Chain Management (SCM) encompasses the planning and management of all activities involved in sourcing, procurement, conversion, and logistics management. It integrates supply and demand management within and across companies to create a cohesive and high-performing business model.

Key components of SCM include:

• Demand planning and forecasting
• Sourcing and procurement strategy
• Manufacturing and operations planning
• Inventory management and optimization
• Logistics and transportation management
• Supplier relationship management
• Risk management and resilience planning

Modern SCM relies heavily on technology, including procurement software, ERP systems, and specialized planning tools, to provide visibility, enable collaboration, and automate processes across the extended supply chain network for improved efficiency and responsiveness.