Makharia Educational Institute provide SCM At the most fundamental level, supply chain management (SCM) is management of the flow of goods, data, and finances related to a product or service, from the procurement of raw materials to the delivery of the product at its final destination.
supply chain management (SCM) deals with a system of procurement (purchasing raw materials/components), operations management (ensuring the production of high-quality products at high speed with good flexibility and low production cost), logistics and marketing channels so that the raw materials can be converted into a finished product and delivered to the end customer.

Other commonly accepted definitions of supply-chain management include:

The management of upstream and downstream value-added flows of materials, final goods, and related information among suppliers, company, resellers, and final consumers.
The systematic, strategic coordination of traditional business functions and tactics across all business functions within a particular company and across businesses within the supply chain, for the purposes of improving the long-term performance of the individual companies and the supply chain as a whole.

A supply chain, as opposed to supply-chain management, is a set of organizations directly linked by one or more upstream and downstream flows of products, services, finances, or information from a source to a customer. Supply-chain management is the management of such a chain.

Supply chain visibility, in its origins, was concerned with knowledge of the location/production stage and expected delivery date of incoming products and materials,

Why Is Supply Chain Management Important?
Modern supply chains help improve living standards by enabling consumers to buy essential products at lower costs. This is because an effective supply chain streamlines the process of getting products to market, and ultimately to consumers.

Some key reasons why supply chain management is important to include:

Basic life necessities. Through supply chain management, individuals access necessities such as food and clothing, as well as life-saving medicines and health care products.
Power and light. People use electrical energy for homes and businesses for light, heat, and air conditioning. The energy supply chain involves the transformation of raw materials into usable energy and uses supply chain management principles to bring energy resources to consumers.
Infrastructure. Interstate highway systems, railroads, ports, and airports facilitate the exchange of goods between businesses and consumers.
Jobs. Supply chain management plays a critical role in job creation. Supply chain professionals work in areas such as transportation, warehousing, inventory management, packaging and logistics information.
When considering why supply chain management is important, it’s worth noting the potential repercussions of an ineffective supply chain. For example, a lack of raw materials can result in a manufacturer not having the resources to create a product that is in high demand. A scarcity of that product can result in abrupt price hikes, impacting consumers.

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