Supply Chain Management (SCM) Strategy is the process of optimizing a business’ internal operations to enhance its competitive advantage in the external market. This involves understanding and managing the interactions between the various parts of a supply chain, including procurement, production, inventory management, customer service, and shipping and logistics. With an effective SCM strategy, a business can significantly reduce costs while improving its customer experience, increasing its sales and profits. By optimizing these processes, businesses can become more competitive in their respective markets.
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