What are the benefits of supply chain management?

Definition

Supply chain management is the process of planning, organizing, and controlling the flow of materials, information, and finances in a business. When a business has a successful supply chain, it can improve its product and service quality and increase revenue. Many businesses use it to help with efficiency, cost reduction, and customer satisfaction. The benefits of supply chain management are numerous. This article explores the key aspects of strategy and outlines the major benefits of implementing a supply chain management program into your company's workflow.