Supply chain management is the process of planning, coordinating, and optimizing the flow of goods, services, information, and finances from the point of origin to the point of consumption to meet customer requirements. It involves various activities such as procurement, production, transportation, warehousing, and distribution. SCM is vital because it helps organizations streamline their operations, reduce costs, enhance efficiency, and ultimately meet customer demand more effectively, which can lead to increased profitability and customer satisfaction.
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