supply chain management (SCM)

  

Definition

Management of material and information flow in a supply chain to provide the highest degree of customer satisfaction at the lowest possible cost.

Supply chain management requires the commitment of supply chain partners to work closely to coordinate order generation, order taking, and order fulfillment. They thereby create an extended enterprise spreading far beyond the producer's location.


Use this term in a sentence

  • I was analyzing the organization structure and realized there was a deficiency in the supply chain management because we were having trouble fulfilling our obligations.

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  • Sam's Club and Costco and other wholesale stress are helping the concept of supply chain management stores to gain footing among young professionals.

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  • When you are able to be good at supply chain management your business will flourish thanks to your low cost and happy customers.

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