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Less control and more supply chain partners lead to the creation of the concept of supply chain management. [28] Supply chain management is concerned with improving trust and collaboration among supply chain partners, thus improving inventory visibility and the velocity of inventory movement. [29] [30]
Supply and demand stacked in a conceptual chain.. A supply chain is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them [1] to end consumers [2] or end customers. [3]
Supply-chain management (SCM) has become increasingly relevant in theory and practice in light of more-complex supply chains. The SCM performs extensive operational tasks, including supply-chain controlling. Seuring [1] transfers the three main concepts of German supply chain-controlling literature into the specific demands of SCM:
When managing a global supply chain, it is important to place emphasis on logistics performance as there has been an increase in business-to-business international marketing. [6] Logistics is inherently difficult and complex for a global supply chain as it deals with trade regulations, shipping distances, and cross-currency issues. Companies ...
Typically, supply-chain managers aim to maximize the profitable operation of their manufacturing and distribution supply chain. This could include measures like maximizing gross margin return on inventory invested (balancing the cost of inventory at all points in the supply chain with availability to the customer), minimizing total operating expenses (transportation, inventory and ...
Supply chain engineering is the engineering discipline that concerns the planning, design, and operation of supply chains. [ 1 ] [ 2 ] Some of its main areas include logistics , production , and pricing .