Understanding SCM
What is supply chain management(SCM)? Ask ten people and you can rest assured that you would get ten different answers. In the end, you would still be wondering, what is SCM?
SCM can defined as a well thought out strategy that aims to integrate operations across the organization in order to remove any extra costs and reduce time wastage while ensuring that the end consumers gets the best possible service.
It is essential to understand that logistic management and SCM are not the same. In fact, logistic management is just a part of SCM. Further, supply management is also a part of SCM. An organization will definitely benefit from proper SCM but that is not sufficient to ensure 100 per cent efficiency. A lot more goes into getting the best out of an organization.
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