Evaluate the economic impacts of supply chain management (SCM) and how the development of supply sources, vendors, and logistics builds overall company value into the enterprise
Expert Answer
Supply chain management is a process which is used by companies to maximise the efficiency and to ensure the quality control.
The five basic components of supply chain are as follows.
1. Plan
2. Develop
3. Make
4. Deliver
5. Return.
1-Plan-
Planning is the first stage of a supply chain. A plan is developed for the actual need of the customer. For a profitable supply chain good planning is very essential. For proper resource management and customer satisfaction
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