supply chain management
The planning, scheduling and control of the supply chain, which is the sequence of organizations and functions that mine, make or assemble materials and products from manufacturer to wholesaler to retailer to consumer. The driving force behind supply chain management (SCM) is to reduce inventory.
Dr. Roger D. Blackwell, professor of marketing at Ohio State University and author of the best-selling book, "From Mind to Market," says it very succinctly. "Supply chain management is all about having the right product in the right place, at the right price, at the right time and in the right condition." See supply chain system and demand chain management.
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| "From Mind to Market" is must reading for supply chain management aficionados. Well written and to the point, Dr. Blackwell has a way with words: "Selling is getting rid of products you have, while marketing means having products you can get rid of." (HarperCollins, 1997, ISBN 0-88730-833-3) |
supply chain management [sə′plī ‚chān ‚man·ij·mənt]
(industrial engineering)
An inventory process involving planning and processing orders; handling; transporting and storing all materials purchased, processed, or distributed; and managing inventories in a coordinated manner among all the players on the chain to fulfill customer orders as they arise rather than to build up stock level to fulfill anticipated future demand.
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