2. The Growing Importance of the Supply Chain and Technology to Business and Society
Supply Chain Defined
The terms supply chain and supply chain management (SCM) should be separately defined as they are sometimes (mistakenly) used interchangeably.
The supply chain is a system (actually more like a web than a chain) of organizations, people, activities, information, and resources involved in the planning, moving, or storage of a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials, and components into a finished product that is delivered to the end customer.
Supply chain management, as defined by the Council of Supply Chain Management Professionals (CSCMP), “encompasses the planning ...
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