CLEP Management

Category - CLEP Management

Which of these is the best definition for Supply Chain Management (SCM)?
  1. Management technique that includes warehouses and supply lines
  2. Management of raw materials from the supplier
  3. The chain of command across suppliers and manufacturers
  4. Management of the processes from raw material suppliers through to customer experiences
Explanation
Answer: D - Supply chain management is an operations management technique that incorporates the entire process, from beginning to end, and searches for methods to improve the processes.

Key Takeaway: Instead of simply looking within their own four walls, many manufacturing managers are now considering supply chain management. Supply chain management encompasses everything in the value chain starting with the company’s suppliers of raw materials and ending with the customer herself and her experiences. By broadening the scope of management, it is possible to reduce costs even further and add overall value to the product.
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