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Supply Chain Management (SCM) Involves the Management of Material Flows,information

question 11

Essay

Supply chain management (SCM) involves the management of material flows,information flows and financial flows between and among stages in a supply chain,to maximise total supply chain effectiveness and profitability.What are the five basic components of SCM?


Definitions:

External

Originating from or situated on the outside of an entity, not inherent or contained within it.

Stable

Characterized by consistency, reliability, and resistance to change or disorder.

Unstable

Characterized by a lack of stability, unpredictability, or being prone to sudden change.

Goal-Related Thinking

is the cognitive process involved in setting, pursuing, and achieving personal objectives.

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