Supply chain management is the systematic and strategic coordination of traditional business functions within an organization and across the businesses within the supply chain. When asking, "What is supply chain management?" it encompasses the planning and management of all activities involved in sourcing, procurement, production, and logistics. A supply chain management definition underscores its role in integrating supply and demand management within and across companies. Understanding the supply chain meaning involves recognizing its goal to streamline and optimize operations, ensuring the right products are delivered to the right place at the right time with minimal cost, all while maintaining high quality and customer satisfaction.
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0:00 Introduction
0:12 What is a Supply Chain?
0:27 Basic Supply Chain for a Product
1:04 A Basic Supply Chain
1:57 Strategies
3:10 Flows in Supply Chains
3:49 Supply Chain Example
4:23 Supply Chain in Manufacturing
5:24 Supply Chain in Services
6:08 Two Types of Supply Chain Management
6:16 Vertical Supply Chain Management
7:02 Horizontal Integration
7:37 Benefits of Vertical Integration
7:51 Benefits of Lateral Integration
8:06 Differences between Vertical and Lateral Integration
8:40 Stages of Supply Chain Management Evolution
9:24 Multiple Dysfunction
9:55 Semi Functional Enterprise
10:26 Integrated Enterprise
10:54 Extended Enterprise
11:21 What is Supply Chain Management?