
Here is your important business information about business value of Supply Chain Management, which is the value brought by implementing Supply Chain Management (SCM) to a business that involves the interaction and communication with suppliers and vendors. According to APICS Dictionary, SCM is the “design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand, and measuring performance globally.” It is important to note that SCM has been evolving from a traditional focus on purchasing and logistics to a broader emphasis on value creation nowadays, as latest technology made things possible.
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