What is Supply Chain and Logistics Management?
Supply chain management (SCM) is the life force of any business. It involves coordinating and integrating the flows of product, information, and finances – both inside and outside the company. The Supply Chain Management concept can be traced back to the intense competition in textile industry worldwide in 1980’s. After analysing the supply chain aspect and developing quick response strategy, lead times dropped from 66 weeks to 40 weeks. Good Supply Chain Management is vital for a company to function efficiently, and qualified Supply Chain Managers are in high demand from businesses.