"Supply chain management (SCM) deals with a system of procurement, operations management, logistics, and marketing channels..."
The coordination of goods and services across various countries and organizations.
Supply chain management: Supply chain management is the coordination of all activities that go into the production, distribution, and delivery of goods and services to customers. It includes logistics, procurement, transportation, and inventory management.
International trade: International trade is the exchange of goods and services between countries. It includes import and export regulations, trade agreements, tariffs, and customs procedures.
Globalization: Globalization refers to the increasing interconnectedness of the world's economies, societies, and cultures. It has led to increased trade and investment across borders.
Freight forwarding: Freight forwarding is the process of arranging the delivery of goods from one country to another. It includes negotiating rates, handling customs clearance, and coordinating transportation.
Incoterms: Incoterms are international commercial terms that define the responsibilities of buyers and sellers in international trade transactions. They specify who is responsible for shipping, insurance, and customs clearance.
Risk management: Risk management involves identifying and mitigating potential risks to the supply chain, which can include natural disasters, geopolitical events, and cyberattacks.
Ethical considerations: Ethical considerations include ensuring fair labor practices, human rights, and environmental sustainability in global supply chains.
Collaboration and communication: Effective collaboration and communication between supply chain partners are crucial for optimizing efficiency and minimizing errors in global supply chains.
Technology: The use of technology, such as logistics software and tracking systems, can enable greater visibility and control over the supply chain.
Trade finance: Trade finance includes financing options for international trade transactions, such as letters of credit and export credit insurance.
Direct Import: This strategy involves purchasing goods directly from the manufacturer in another country.
Export Management: This type of supply chain management involves supporting and managing the exporting of goods to other countries.
Global Sourcing: This is an approach in which a company seeks to tap into the best global sources of products, services, talent or ideas to improve operations and save costs.
Offshoring: In this type of supply chain management, a company moves a part of its manufacturing process or service delivery to another country.
Nearshoring: This strategy involves moving business operations or processes to a location closer to the home country of a business.
Outsourcing: A company hires another organization to perform tasks or provide services that were previously done in-house.
Third-Party Logistics (3PL): In this type of supply chain management, a company outsources logistics and transportation services to another organization.
Vendor-Managed Inventory (VMI): A vendor manages inventory for a company, with the company providing only general guidance regarding the desired inventory levels.
Cross-Docking: In this system, the goods are loaded into a central warehouse and are then explosively loaded into delivery vehicles so that they can go directly to the destination.
Just-In-Time (JIT): JIT is a production strategy that involves producing and delivering goods only when they are needed. This helps avoid problems with overproduction or storage costs.
"... procurement, operations management, logistics, and marketing channels."
"The objective of supply chain management is to create net value, build a competitive infrastructure, leverage worldwide logistics, synchronize supply with demand, and measure performance globally."
"Supply chain management encompasses the integrated planning and execution of processes required to optimize the flow of materials, information, and capital."
"Marketing channels play an important role in supply-chain management."
"Current research in supply-chain management is concerned with topics related to sustainability, volatility, and risk management, among others."
"An important concept discussed in SCM is supply chain resilience."
"The 'people dimension' of SCM, ethical issues, internal integration, transparency/visibility, and human capital/talent management are topics that have, so far, been underrepresented on the research agenda."
"Supply chain management is focused on a more traditional management and business-based approach, whereas supply chain engineering is focused on a mathematical model-based one."
"Supply chain management ensures that raw materials can be converted into a finished product and delivered to the end customer."
"Interconnected, interrelated or interlinked networks, channels, and node businesses combine in the provision of products and services required by end customers in a supply chain."
"SCM encompasses the integrated planning and execution of processes required to optimize the flow of materials, information, and capital in functions that broadly include demand planning, sourcing, production, inventory management, and logistics."
"Supply chain management includes the movement and storage of raw materials, work-in-process inventory, finished goods, and end-to-end order fulfillment from the point of origin to the point of consumption."
"SCM is the broad range of activities required to plan, control, and execute a product's flow from materials to production to distribution in the most economical way possible."
"SCM focuses on ensuring the production of high-quality products at high speed with good flexibility and low production cost."
"The design, planning, execution, control, and monitoring of supply chain activities are important elements of SCM."
"The objective of supply chain management is to build a competitive infrastructure, leverage worldwide logistics, and synchronize supply with demand."
"Supply chain management strives for an integrated, multidisciplinary, multimethod approach."
"The objective of supply chain management is to create net value."
"The objective of supply chain management is to measure performance globally."