Supply Chain Management- Definition, Components, and more

Long gone are the days when businesses were restricted by geographical boundaries and operating within a particular zone. In today’s highly interconnected world’s economy, businesses have the freedom to operate across different countries. All thanks to the technological innovations as well as modernization in the supply chain industry. Let’s dig deeper about supply chain management: What is supply chain management? SCM is the management of the flow of goods or services from source to destination by following activities like demand planning, raw material procurement, production, inventory management, order management, movement and storage, and transportation and logistics. To manage these processes,…