Supply Chain Management encompasses the planning and management of all activities involved in sourcing, procurement, conversion, and logistics management. It also includes the crucial components of coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and customers. In essence, supply chain management integrates supply and demand management within and across companies.
Existing economic conditions and fierce competition are forcing organizations to seek new ways to reducecosts and enhance profitability and cash flow. Businesses are feeling the pressure to improve procurement effectiveness, leading organizations to strengthen their Procurement processes and the people running the Procurement & Supply Chain departments.
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