Supply Chain Management
The logistics capability that is evolving much faster than most others is:
- E-commerce fulfillment.
E-commerce fulfillment is rapidly changing due to technological advancements, increasing customer expectations, and the dynamic nature of the online marketplace.
Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer. Supply chain management involves coordinating and integrating these flows both within and among companies. It includes the following processes:
- Planning: Balancing supply and demand.
- Sourcing: Obtaining goods and services.
- Manufacturing: Production of goods.
- Delivery and Logistics: Getting products to customers.
- Returning: Handling product returns and customer support.
The goal of SCM is to improve efficiency, reduce costs, and enhance customer satisfaction by optimizing every step of the supply chain. It encompasses a wide range of activities, from product development to distribution, and relies on collaboration and communication among all partners in the chain.
Additional information can be found at: