Supply chain management

Supply chain management is a process-oriented management approach which includes all components of the business process and how they relate to each other. They are included in a continuous flowchart involving mainly suppliers, end products and information on a value-accruing cycle (the Supply chain). The main purpose of supply chain management is to strive for optimsation of resources in all the components of thsi cycle, ultimately securing company success on the market. Thsi overarching approach calls for a unique and consistent mapping of all the business units, including production, flow of raw material and process order. All activities and processes are managed and monitored, integrating the management of supply chain, which are composed of retailers, suppliers and manufacturers, keeping control of all variations that might occur with the demands in the business operations.

Example of supply chain, showing all teh steps to get to the final product: a laptop. source: https://en.wikipedia.org/wiki/File:Supply_and_demand_network_(en).png