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Supply Chain Management (SCM)

supply chain
integrated network consisting of an organization, its suppliers, transportation companies, and brokers used to deliver goods and services to customers
supply chain management
process of working with suppliers and other partners in the supply chain; helps with managing the communication by improving procedures for delivery products and services
3 Areas in a SCM System where Communication takes place
product flow, information flow, and finances flow
product flow
managing the movement of goods all the way from suppliers to customers (including customer service and customer support)
information flow
overseeing order transmissions and delivery status updates throughout the order processing cycle
finances flow
handling credit terms, payment schedules, and consignment and title ownership agreements
2 Main Technologies that play a Major ROle in a Modern SCM System
internet and information technologies
technology/ system companies use to scan what is being sold in order to collect data in real time

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