Wikipedia defines the Supply chain as “.. a business process that links suppliers, manufacturers, warehousing, logistics, retailers and the end customer in the form of a linear integrated skill and resource pool with the aggregated goal of delivering a product or service. It encompasses all activities and the flow of information both upstream and downstream the chain and is associated with the transformation of a product from raw materials through to a finished product.”
This is correct. However, it does sound a little too academic.
One way to look at the supply chain is as a network. This network includes all the players and facilities involved in getting the goods from materials requirement stage to fulfilment stage.The entire chain is subdivided into subnets: Manufacturing, Finance, Warehousing, Logistics, Distribution, Retailing…
Each of these subnets is vital and linked to more than one other in the network, forming an intricate web that needs to be managed with skill – and foresight. Minor errors can sometimes (and often) lead to financial ruin.
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