What Are the Key Components of Supply Chain Management?
Procurement: The process of sourcing and acquiring raw materials, components, and services needed for production. Production: The transformation of raw materials into finished products through manufacturing processes. Distribution: The movement of finished products from the manufacturing facility to distribution centers and ultimately to customers. Inventory Management: The control and oversight of inventory levels to ensure optimal stock levels and minimize costs. Order Fulfillment: The process of receiving, processing, and delivering customer orders efficiently and accurately.