Supply Chain Efficiency Definition
The definition of supply chain efficiency is the optimization of the process by which materials, information, and finances flow between suppliers and customers. The goal is to minimize waste and maximize productivity while ensuring customer satisfaction.
An efficient supply chain enables a company to respond quickly to changes in customer demand, reduce inventories, and improve cash flow. In addition, an efficient supply chain can lead to lower production costs and improved profitability. To achieve these benefits, companies must have a clear understanding of their supply chains and use appropriate tools and technologies to manage them effectively.