Supply chain management (SCM) is the oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer. It aims to coordinate and optimise the entire flow to reduce costs, improve efficiency, and meet customer demand.

SCM includes procurement, production planning, logistics, inventory management, and demand forecasting. Modern SCM uses digital tools, data analytics, and collaboration platforms to increase visibility and responsiveness. It is critical for resilience, as disruptions such as natural disasters or pandemics can affect global supply chains.

Key points

• Oversight of materials, information, and finances
• From supplier to consumer
• Includes logistics and inventory
• Critical for resilience and efficiency