Business and Finance Lesson 12: Supply Chain Management (Learn English)

Supply Chain Management (SCM) SCM is the process of managing how a product goes from raw material to finished good (and then on to recycling if necessary). It spans from high level (CEO) to low level workers. (shipping staff) The supply chain must maximize quality and speed. Any company has infinite combinations of ways to build and ship a product. In this section, we will look at some smart ideas for supply chain management in 2011. Ideas to consider: Oil went from $20 to $147 in 7 years and the costs keep rising. Shipping costs will rise. Globalization means workers can be in different countries. Some countries have corrupt governments. Some products need fast shipping, others not