What is importance of supply chain management?

Supply chain management is a part of the management process that ensures that materials, products, or services are delivered in a consistent and timely manner. It is a system of activities used by companies to ensure that their supply of raw materials, parts, and finished goods is delivered to their customers. The term has also been applied interchangeably with logistics. Supply chain management has become increasingly important as the global market becomes more complicated and the pace of production increases.