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[2] [3] A more narrow definition of supply chain management is the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronising supply with demand and measuring performance globally".
A supply chain is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them [1] to end consumers [2] or end customers. [3] Meanwhile, supply chain management deals with the flow of goods in distribution channels within the supply chain in the most efficient manner. [4] [5]
A warehouse in South Jersey, a U.S. East Coast epicenter for logistics and warehouse construction outside Philadelphia, where trucks deliver slabs of granite [1]. Logistics is the part of supply chain management that deals with the efficient forward and reverse flow of goods, services, and related information from the point of origin to the point of consumption according to the needs of customers.
In commerce, global supply-chain management is defined as the distribution of goods and services throughout a trans-national companies' global network to maximize profit and minimize waste. [1] Essentially, global supply chain-management is the same as supply-chain management, but it focuses on companies and organizations that are trans-national.
While logistics looks at single echelons with the immediate supply and distribution linked up, supply chain looks at multiple echelons/stages, right from procurement of the raw materials to the final distribution of finished goods up to the customer. It is based on the basic premise that the supply and distribution activities if integrated with ...
Supply chain engineering is applied to all parts of supply chains, including: [3] [1] Authentication and tracking, such as via RFID technology; Financing; Demand forecasting; Facility location; Logistics for both goods and people. Transportation; Warehousing and inventory management; Pricing; Production and manufacturing
Supply-chain sustainability is the management of environmental, social and economic impacts and the encouragement of good governance practices, throughout the lifecycles of goods and services. [1] There is a growing need for integrating sustainable choices into supply-chain management.
In the 1960s, the term "logistics" began to be used in the business world, [2] where it means physical distribution and supply chain management. This is more restricted than the military definition. [8] Logistics is an enabler of military operations, not an end in itself. [9]