33:799:301 Study Guide - Midterm Guide: Supply Chain, Manufacturing Resource Planning, Inventory Investment

• School: Rutgers University
• Department: Supply Chain Management
• Course: 33:799:301
• Professor: Chris Provines

Document Summary

Supply chain management is the coordination of a network of independent organization all involved in creating a desired product or service, and moving it from suppliers out to customers, when and where they want it. Delivers value by managing the processes of all of those otherwise independent trading partners so that they collaborate with one another in an efficient, effective, and cost conscious way. The two main reasons that firms implement supply chain management are to: Refers to a network of independent companies that work together and coordinate their actions to deliver a product(s) or service(s) to market for the benefit of all companies in the network. Marketing, new product development, finance, customer service. Consists of the flow of products from: Raw material suppliers to intermediate suppliers to finished product manufacturers to wholesalers and distributors to retailers and consumers. Nodes or links in the supply chain are connected by transportation and warehousing; and integrated through information and planning.