Supply chain management is unique in that it is one of the oldest business activities and yet has been recently discovered as a potentially powerful source of competitive advantage. Supply chain system activities planning production levels, forecasting demand, managing inventory, warehousing, transportation, and locating facilities have been performed since the start of commercial activity. It is difficult to visualize any product that could reach a customer without a consciously designed supply chain. Yet it is only recently that many firms have started focusing on supply chain management. There is a realization that no company can do any better than its supply chain and logistics systems. This becomes even more important given that product life cycles are shrinking and competition is intense. Logistics and supply chain management today represents a great challenge as well as a tremendous opportunity for most firms.
Supply Chain Management