Supply Chain Management | Vidy Potdar Associate Professor from Australia #shorts #scm

Supply Chain Management | Vidy Potdar Associate Professor from Australia #shorts #scm

Supply Chain Management (SCM) is defined as the systemic, strategic coordination of traditional business functions and tactics across these functions within a particular company. Moreover, SCM extends beyond individual companies to include coordination across businesses within the supply chain. The primary goal of this coordination is to improve the long-term performance of individual companies as well as the supply chain as a whole.

Managing a supply chain is a challenging task due to the involvement of multiple parties, entities, or companies. The complexity of ensuring streamlined and coordinated supply chain management is a significant challenge many companies and their partners strive to overcome.

Keywords

• Supply Chain Management (SCM)
• Strategic coordination
• Traditional business functions
• Tactics
• Coordination across businesses
• Long-term performance
• Streamlined supply chain

FAQ

Q: What is Supply Chain Management?
A: Supply Chain Management (SCM) is the systemic, strategic coordination of traditional business functions and tactics across both a particular company and across various businesses within the supply chain to improve long-term performance.

Q: Why is managing a supply chain challenging?
A: Managing a supply chain is challenging because it involves coordinating multiple parties, entities, or companies, making streamlined and efficient coordination a complex task.

Q: What is the goal of Supply Chain Management?
A: The primary goal of SCM is to improve the long-term performance of individual companies and the supply chain as a whole.