Supply-chain management

Definition

Supply-chain management involves overseeing and managing the flow of goods, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer. It aims to maximize efficiency, reduce costs, and ensure timely delivery of products.

Related terms

Logistics:

The detailed coordination of complex operations involving people, facilities, or supplies.

Inventory Management:

The process of ordering, storing, using, and selling a company's inventory.

Procurement:

The act of obtaining goods or services, typically for business purposes