supply-chain-management

Vocabulary Word

Definition

Supply chain management involves overseeing the steps a product goes through, from being made, transported and stored, to how it reaches the end customer. It helps to ensure the product's availability and timely delivery.

Examples in Different Contexts

In logistics, supply chain management involves overseeing the movement of goods from suppliers to customers. A logistics manager might say, 'Effective supply chain management is key to reducing our transportation costs and delivery times.'

Practice Scenarios

Tech

Scenario:

We're seeing a slowdown in the production process due to a scarcity of certain components.

Response:

Perhaps we need a more reliable supply chain management strategy to avoid component shortages.

Operations

Scenario:

We've been facing transportation issues causing product delivery delays in our east coast network.

Response:

By improving our supply-chain-management systems, we could minimize transportation issues and optimize delivery schedules.