A supply chain refers to the network of organizations, activities, resources, and processes involved in the creation and delivery of a product or service from its initial production stage to its final consumption by customers. It encompasses the entire flow of materials, information, and finances across various stages, from sourcing raw materials to manufacturing, distribution, and ultimately reaching the end-users.
A typical supply chain consists of several interconnected entities, including suppliers, manufacturers, distributors, retailers, logistics providers, and customers. Each entity within the supply chain plays a specific role in the movement, transformation, and delivery of goods or services.
Key components and activities within a supply chain include:
Efficient supply chain management is crucial for organisations to streamline operations, reduce costs, improve customer satisfaction, and gain a competitive advantage. It involves optimising processes, enhancing collaboration, and leveraging technology to achieve end-to-end visibility, responsiveness, and efficiency in delivering products or services to the market.
