Supply Chain Management
Definition
Planning and controlling the full process from raw material procurement to product sales.
Historical Background
1990s: lean production and zero-inventory management became possible.
Example
From raw materials to delivery, every link must coordinate efficiently. Like a relay race.
Formula
Supply Chain Efficiency = Delivery Cycle / Order Cycle x 100%
Core Concepts
Balancing supply timeliness and inventory cost.
Extended Applications
Procurement, production planning, inventory control, logistics, information management.