Supply chain management (SCM) is a holistic approach to managing and optimizing<\/strong> a company’s supply chain<\/strong>. It encompasses the planning, coordination and control of all activities associated with the flow of goods, information and financial resources<\/strong> – from the raw material supplier to the end customer<\/strong>. The aim of SCM is to provide the right products at the right place at the right time in the right quantity and quality at minimum cost. <\/p>\n\n Effective SCM can give companies a decisive competitive edge. It pursues the following goals: <\/p>\n\n Ultimately, all these improvements lead to lower costs<\/strong> and higher profitability<\/strong>, as well as more satisfied customers<\/strong>.<\/p>\n\nObjectives of supply chain management<\/h2>\n\n
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