supply chain management
/səˈplaɪ tʃeɪn ˈmænɪdʒmənt/ · sup·ply·chain·man·age·ment
noun
- The systematic planning, implementation, and control of the flow of goods, information, and finances from raw‑material suppliers through manufacturers to end customers. Effective supply chain management reduced the company's lead time by 30 percent.
- A discipline that integrates procurement, production, logistics, and distribution to achieve competitive advantage. She earned her MBA with a concentration in supply chain management.
Synonyms
logisticsoperations managementprocurement managementsupply chain coordinationmaterials managementdistribution managementinventory controlsupply network management
Antonyms
Did you know? The term 'supply chain management' entered mainstream business literature after a 1982 Harvard Business Review article, and it was later popularized by the 1990s rise of global outsourcing.
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