ITM 350 Chapter 7: ITM 350 Chapter 7 Notes.docx

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 350
• Professor: Franklyn Prescod

Document Summary

Supply chain management (scm): is the process of coordinating and optimizing the flow of all products or services, information, and finances among all players of the supply chain. Includes functions such as forecasting the demand of various types of materials, ordering from suppliers, inbound logistics, warehousing, manufacturing, outbound logistics, sales, and delivery to the end consumer. Logistics is the process of planning, implementing, and controlling the efficient and effective flow and storage of goods, services, and related information from point of origin to point of consumption. Push system is a supply-chain model in which suppliers produce goods based upon their efficiencies and push them to customers, rather than relying on demand to determine production. Companies face challenges when they grow globally. Ex: setting up a delivery service in a foreign country is complicated. Consumers asking for products that are tailored to specific needs. Customers are becoming increasingly sensitive to price.