Supply Chain Management (SCM):

– The term was investigated by Keith Oliver in 1982.

–  Supply chain is a network of organizations contributing to the design, production and distribution of a product from its consumption by the final consumers.

– The SCM is the process of planning, implementing, and controlling the operation of supply chain with the purpose to satisfy customer requirements as efficiently as possible.

– It includes all movements and storage of raw materials, management of inventory, and – finished products from point-in-origin to point-of-consumptions.

– Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third party service providers and customers.

Supply chain management focuses four management activities:

i) Determining market requirements

ii) establishing and managing supply chain relationships,

iii) managing and sharing  information and

iv) Managing material production and distribution.