What is SCM?

In commerce, supply chain management (SCM), the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption. Key goals for supply chain management should be to achieve efficient fulfillment of demand, drive outstanding customer value, enhance organizational responsiveness, build network resiliency, and facilitate financial success.

A supply chain is comprised of all the businesses and individual contributors involved in creating a product, from raw materials to finished merchandise. ... Examples of supply chain activities include farming, refining, design, manufacturing, packaging, and transportation.

What are elements of SCM?

There are four major elements of supply chain management: integration, operations, purchasing and distribution. Each relies on the others to provide a seamless path from plan to completion as affordably as possible.