Supply chain: Backbone bridge of success

THE supply chain is one of the most important and dynamic topics in business today.

- By Dhanushka Samaraweera

While it has been an essential part of commerce for decades, its strategic importance has increased even more since the COVID-19 pandemic, as organisations around the world have recognised that supply chains are not just back-end functions; they are the lifeblood that keeps businesses running.

The term 'supply chain' has many definitions, such as 'supply chain management' or 'SCM', which is the practice of managing the movement of products and services across different processes and locations. It includes the storage and transportation of raw materials, work-in-process inventory, finished items, and end-to-end order fulfilment from the point of origin to the point of consumption.

The Stockarea defines Supply Chain Management (SCM) as the practice of managing the movement of products and services across different processes and locations.

This includes everything from raw material sourcing to work-in-process inventory, finished goods, storage, transportation, and ultimately, delivery to the end user.

Seamless movement and coordination

SCM ensures seamless movement and coordination across all stages of production and distribution, from origin to consumption.