Supply chain management

From GAWDAwiki

Supply chain management is the integration and coordinated execution of all the business processes used to plan and execute the flow of material, goods, products and related information between the many sources and points of use throughout the supply chain in order to achieve the best overall, system wide performance in terms of total cost, on-time (just-in-time) delivery and minimum in-process inventories across the network of suppliers, factories and trading partners that comprise the supply chain. See also supply chain, logistics, and third party logistics. Note that all referenced terms are highly interrelated and their definitions are frequently intermingled.^[1]

References

1. http://www.mhia.org/learning/glossary