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Supply Chain Defined

oboloo Glossary

Supply Chain Defined

Supply Chain Defined in procurement is the interconnected processes of sourcing, producing, distributing and selling goods. It involves managing the entire upstream and downstream flow of materials, information, capital and services from raw material suppliers all the way to consumers. There are several objectives associated with successful supply chain management, including cost reduction, improved operational efficiencies, better supplier relationships, and timely delivery of goods at competitive prices. By taking full advantage of the available technology and leveraging the expertise of specialized service providers, businesses can significantly improve their overall performance.

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