supply chain management

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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.

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.


The Primer
"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)
References in periodicals archive ?
Motivated to implement a change that would drive greater efficiencies, Bottorff turned to Medline and its partner, Wes-Pak Consulting and Design, to take an in-depth look at their perioperative supply management, including the surgical procedures performed, supplies being used, and supplies being pulled and held for possible use.
Supply strategies are about the specific goals and plans of the supply management function.
Jim Costa (D-Calif.) thinks farm bill negotiators should call what he labels Boehner's bluff regarding dairy supply management language in the final farm bill conference report.
WASHINGTON -- Labor Department releases second-quarter productivity data, 8:30 a.m.; Institute for Supply Management releases its service sector index for August, 10 a.m.
Expectations are for a continuation of the recovery that began in mid-2009, according to the monthly "Report On Business" from the Institute for Supply Management. The manufacturing sector is optimistic about growth this year, with revenues expected to increase in 17 industries, and the nonmanufacturing sector predicts that 14 of its areas will see higher revenues.
The CIPS qualification equips people working in the area of procurement with the professional knowledge, training, and practical skills they need in order to derive maximum benefit from their procurement practices so that their organizations achieve all-round excellence in procurement and supply management. -- TradeArabia News Service
PMI 56.2 55.5 54.4 56.9 56.6 New orders 58.5 53.5 51.1 58.9 56.6 Production 61.4 57.0 56.5 62.7 55.0 Inventories 45.8 50.2 55.6 53.9 56.7 Customer inventories 38.0 39.0 42.5 44.0 45.5 Backlogs 57.0 54.5 46.5 46.0 46.0 Sources: Institute for Supply Management, Dec.
This study examines the effects of SRM capability on supply management performance.
Headquartered in Tempe, Ariz., ISM is a not-for-profit membership association that leads and serves supply management professionals across the globe.
Supply management had its origins in the 1960s when farmers were increasingly facing volatile markets, losing control over their markets, and being squeezed by processors and retailers.
New orders decreased 6.9 points to 45.7%, while production dropped 4.6 points to 47.3%, says the Institute for Supply Management (ism.ws).
Limited and disparate IT systems: Hospitals have lagged behind other industries in adoption of supply management technologies such as sourcing, contract management and supplier management or spend-analysis software.

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