What is Supply chain management? (SCM)

The supply chain extends the value chain of an organization Three flows in a supply chain • Material/Product flow • Information flow • Financial flow • Importance of syncronization The Value chain covers one organization but the supply chain spand the value chains of several chains through several organizations. ”SCM software helps organizations manage the movement of materials or products from provision to production to consumption” Focus on developing the most effective buying process with suppliers of the products and services, the organization needs.