A supply chain is the network between a company and its suppliers and customers that includes all the transactions involved in transforming raw goods into a salable products.
The network includes the activities, people, technology, information and resources, while the functional teams involved in the company’s network includes sales, sourcing, procurement, production, logistics and customer service.
Supply chain managementis the coordination, management and strategy that drives the flow of data, information, resources and materials to deliver the best product and service to all stakeholders in the process of converting raw goods to a salable product and delivering it to the ultimate customer.
When the activities of a company’s supply chain are brought together into a single vision, supply chain management drives a competitive advantage by executing faster, reducing friction through all internal and external points, thus bringing more transparency throughout the process to deliver a product or service that is beyond expectations of the end customer.
Learn more about what a supply chain is in video form:
Leaders in supply chain management understand their company's supply chain is more than the movement of goods from raw materials to finished goods. These innovators bring together the internal and external business processes and networks associated with delivering the best service and product under a single collaborative system that delivers the ultimate customer experience.
By streamlining and coordinating the supply and demand side of service and product activities to maximize the customer experience a company builds a competitive advantage in the marketplace.