Supply chain management (SCM) is essentially the oversight of materials,information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer. It involves coordinating and integrating these flows both within and among companies.

Key aspects of SCM include:

• Planning: Forecasting demand, setting inventory levels, and developing production schedules.
• Sourcing: Selecting suppliers, negotiating contracts, and managing supplier relationships.
• Logistics: Managing transportation, warehousing, and distribution.
• Returns: Managing product returns, and reverse logistics.

The goals of SCM are to:

• Reduce costs.
• Improve efficiency.
• Enhance customer satisfaction.
• Increase profitability.