Key Elements of Supply Chain Management is a comprehensive approach to managing the flow of goods and services from the point of origin to the point of consumption. It involves the integration of multiple processes and activities such as sourcing, procurement, production, logistics, and distribution. It also involves the management of information, resources, and relationships between suppliers, manufacturers, distributors, and customers. The main objective of supply chain management is to ensure that the right product is delivered to the right place at the right time, in the right quantity, and at the right cost. It is a strategic approach to managing the flow of materials, information, and services from the supplier to the customer. It involves the coordination of activities such as planning, sourcing, manufacturing, inventory management, transportation, and customer service. Supply chain management is a key element of any successful business, as it helps to reduce costs, improve customer service, and increase efficiency.
