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Supply Chain Management - SCM
What does it mean?
The management and coordination of a product's supply chain for the purpose of increasing efficiency and profitability.
In Other Words...
Typically, SCM will attempt to centrally control or link the production, shipment, and distribution of a product. By managing the supply chain, companies are able to cut excess fat and provide products faster. This is done by keeping tighter control of internal inventories, internal production, distribution, sales, and the inventories of the company's product purchasers.
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Related Terms
Inventory | Just In Time | Supply Chain
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