supply chain management
supply chain management(SCM) is the control of the supply chain as a process from supplier to manufacturer to wholesaler to retailer to consumer. Supply chain management does not involve only the movement of a physical product (such as a microchip) through the chain but also any data that goes along with the product (such as order status information, payment schedules, and ownership titles) and the actual entities that handle the product from stage to stage of the supply chain.
There are essentially three goals of SCM: to reduce inventory, to increase the speed of transactions with real-timedata exchange, and to increase revenue by satisfying customer demands more efficiently.
Stay up to date on the latest developments in Internet terminology with a free weekly newsletter from Webopedia. Join to subscribe now.
Webopedia's student apps roundup will help you to better organize your class schedule and stay on top of assignments and homework. Read More »List of Free Shorten URL Services
A URL shortener is a way to make a long Web address shorter. Try this list of free services. Read More »Top 10 Tech Terms of 2015
The most popular Webopedia definitions of 2015. Read More »
The Open System Interconnection (OSI) model defines a networking framework to implement protocols in seven layers. Use this handy guide to compare... Read More »Computer Architecture Study Guide
This Webopedia study guide describes the different parts of a computer system and their relations. Read More »What Are Network Topologies?
Network Topology refers to layout of a network. How different nodes in a network are connected to each other and how they communicate is... Read More »