Supply Chain Management and its Components

Supply Chain Management (SCM) is a set of approaches utilized to efficiently integrate suppliers, manufacturers, warehouses and stores so that merchandise is produced and distributed at right quantities, to the right location and at the right time, in order to minimize system-wide costs while satisfying service level requirements.

SCM Components

The following are the components of Supply Chain Management - 

• Suppliers

• Manufacturing centers

• Raw materials

• Work-in –process inventory

• Finished goods

• Warehouses

• Distribution Centers

• Retail outlets &

• Customers