What is supply chain management?
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The goal of supply chain management is to optimize the flow of goods and services through the supply chain, while minimizing costs and improving customer satisfaction. Effective supply chain management requires collaboration and communication among all parties involved in the supply chain, including suppliers, manufacturers, distributors, retailers, and customers.
Some of the key activities involved in supply chain management include forecasting demand, managing inventory levels, optimizing transportation routes, and ensuring product quality and safety. By effectively managing the supply chain, companies can improve their operational efficiency, reduce costs, and gain a competitive advantage in the marketplace.