Understanding the Process of Supply Chain Management

Thousense Lite18 Feb, 2025Business

The process of supply chain management involves planning, procurement, production, distribution, and customer service. It starts with demand forecasting and ends with final delivery. Businesses use SCM to ensure efficient product movement while minimizing waste and maximizing profits. Technology plays a vital role in enhancing supply chain processes, making automation, tracking, and real-time data analytics critical components. Companies that refine these processes gain a significant competitive advantage.