Class 9 – Supply Chain Management
A supply chain is a network of facilities and distribution options that performs the functions of procurement of materials, transformation of these materials into intermediate and finished products, and the distribution of these finished products to customers. Supply chains exist in both service and manufacturing organizations, although the complexity of the chain may vary greatly from industry to industry and firm to firm.
As Information Technology has become more and more pervasive, business partners have found increasing opportunities to develop interconnecting “virtual” relationships. This has allowed manufacturing firms to establish links with suppliers at every tier. Additionally, manufacturers of end user goods can connect to their customers, creating an unbroken network to facilitate the “demand-consume-demand” cycle that is imperative for the success of today’s Just-In-Time materials management systems.
Supply Chains are Characterized By:
Supply Chain Links on the Web
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