What is Supply Chain Management?
Supply Chain Management is the management of all connections and linkages along a supply chain.
The Canadian Supply Chain Sector Council (CSCSC) defines supply chain management as:
“A system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer… Food, life-saving drugs, furniture, books, computers, cell phones… they all get to you through a supply chain.”
Information between suppliers, distributors and clients is shared along the supply chain, helping all parties involved in planning accordingly and meeting current and future needs. CSCSC also highlights that through successful supply chain management:
- Inventory can be minimized
- Costs can be reduced
- Product time to market can be improved, and
- Flexibility can be enhanced
These are just some of the advantages of having a well-managed supply chain!