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 ?
Grounding supply chain management in resource-advantage theory: In defense of a resource-based view of the firm.
Other notable supply chain management achievements during the year:
Dan DiMaggio (UPS Worldwide Logistics): What is supply chain management exactly?
The ASUG Supply Chain Management Forum promises to deliver the latest intelligence on supply chain trends, along with tangible ideas on how to reduce costs, enhance productivity, and create a roadmap for building effective operations.
For more information about the 2006 ASUG Supply Chain Management Forum, visit: http://www.
As one of our first-ever CSCMP Annual Conference sponsors, we look forward to working with CombineNet to build brand awareness among our elite group of supply chain management decision-makers who will attend CSCMP 2006," said Rick Blasgen, CSCMP president and CEO.
We're very pleased to welcome this innovative newcomer to the '100' list and look forward to their next success in transforming the supply chain management experience for their customers.
Supply Chain Management (SCM) applications include execution applications like Warehouse and Production Management which operate in near real-time, as well as planning applications that create plans to be fulfilled over longer horizons.
It's a distinct honor to be associated with such a fine organization as the Stanford Global Supply Chain Management Forum and to be presenting with Tom Maher of Dell," said Gafke.
Stuart Emmett and Barry Crockers book explains how a relationship-based approach to supply chain management can transform business; how to organise your business internally for effective supply chain relationships and how to transform your external supply chain using relationship marketing, customer relationship management and supply chain partnerships.
The Shanghai facility is the first of the 20 Sinopharm distribution centers to implement Manhattan Associates' solution as part of its strategic plan to achieve integrated supply chain management and execution.
Atlanta, GA-based supply chain management (package design, contract packaging, contract manufacturing, and logistics) company.

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