CSCMP ’ S DEFINITION OF SUPPLY CHAIN MANAGEMENT :
SCM - KEEPING YOUR VALUE CHAIN LINKED
CSCMP ’ S DEFINITION OF SUPPLY CHAIN MANAGEMENT :
Supply chain management encompasses the planning and management of all activities involved in sourcing and procurement , conversion , and all logistics management activities . Importantly , it also includes coordination and collaboration with channel partners , which can be suppliers , intermediaries , third-party service providers , and customers . In essence , supply chain management integrates supply and demand management within and across companies .
SCM synergises efforts that are otherwise often performed in silos , ensuring alignment of endeavors across departments so you can realise objectives , and find the market and economic value that affords you competitive advantage .
“ With the pandemic and associated economic slowdown , nearly all industries are viewing cost and cash management as essential ”
— Deloitte , 2020 Chief Procurement Officer Flash Survey
SCM - KEEPING YOUR VALUE CHAIN LINKED
According to the Cambridge Dictionary , the value chain involves the series of stages involved in producing a product or service that is sold to consumers , with each stage adding to the value to the product or service .
45 supplychaindigital . com