Supply chain management is the oversight and coordination of all activities involved in sourcing, procurement, conversion, and logistics management. The supply chain reflects a portion of a company’s operations that are devoted to the flow of goods and services from the beginning of production all the way to the final point of consumption. In other words, supplying all the required materials in a given timeframe, at a given cost and quality, with minimal waste. By optimizing the supply chain process, companies can cut costs and expand their competitive advantages.