supply chain management

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Supply Chain Management

The act or process of ensuring that one's business has the proper supplies in order to continue operations. Supply management involves ensuring that supplies are procured as cheaply as possible. For example, a construction company must procure cement, wood, and nails efficiently and inexpensively; equally, a consulting firm must make sure that research materials are easily available. Large companies often devote whole divisions to supply chain management, giving them budgets of millions of dollars to help the company save money.

There are two basic types of supply chain management: just in time and just in case. A just in time supply chain management strategy involves keeping only enough inventory to meet immediate business needs. This requires constant monitoring but can save a significant amount money. A just in case strategy, on the other hand, keeps a larger inventory to meet unexpected increases in demand. This saves less money (depending on the nature of the business and matters like carrying costs) but can be easier to manage.

supply chain management

a term used to describe the management of inventory (STOCK), not only within a firm but also along the network of suppliers and customers which constitute the SUPPLY CHAIN or VALUE-ADDED CHAIN. Supply chain management employs a variety of methods such as STOCK CONTROL, MATERIALS REQUIREMENT PLANNING and DISTRIBUTED REQUIREMENT PLANNING to both minimize stock-holding costs while maintaining effective distributed levels of servicing customer orders. See SUPPLIER DEVELOPMENT.
References in periodicals archive ?
Teradata Demand Chain Management, on premise or in the cloud, delivers the most accurate forecast for the retail industry where it counts, at whatever point of purchase suits the customer," said Mardie Noble, vice president, Demand Chain Management Product Strategy & Engineering for Teradata.
Teradata Demand Chain Management links consumer demand with inventory levels and sales forecasts, by item, by location, weekly, and daily.
To learn more about Teradata Demand Chain Management, please visit the Teradata website.
Through the unique combination of Pivotal's demand chain management applications running on the Microsoft's family of .
Teradata's enhanced Demand Chain Management solution enables companies to increase customer service levels by balancing inventory investment with customer demand.
Teradata Demand Chain Management utilizes a "bottom-up" approach to linking consumer demand with inventory levels and sales forecasts, by item, by location, weekly, and daily.
These productions will include audio clips on demand chain management, video product presentations and other special broadcasts of specific interest to the retail market.
a subsidiary of NEC Corporation, is an Irving, Texas based company providing demand chain management tools, software and systems integration for retailers, trade exchanges and net market makers.
In addition to the demand chain management and service supply chain series, the year-long Webinar program includes discussions on master data management (MDM) and supply chain management.
retailer, SeeChain complements the Teradata Demand Chain Management forecasting and replenishment solution and the Teradata(R) Warehouse by providing daily alerts and reports pertaining to total sell-through and vendor performance on forecasts and promotional activities.
Also in February, part one of the demand chain management series, "Transforming E-Commerce for the Extended Enterprise," will discuss how to improve marketing activities throughout the channel.