Supply Chain Definitions:
The management of components, manufacturing and distribution of a manufactured commodity. The supply chain management includes warehousing and tracking inventory. (California State University – Monterey Bay)
Supply Chain Model
The sequence of steps, often done in different firms and/or locations, needed to produce a final good from primary factors, starting with processing of raw materials, continuing with production of perhaps a series of intermediate inputs, and ending with final assembly and distribution. (Deardorff’s Glossary of International Economics)
A collection of activities and organizations involved in moving products (for example, raw materials) from one point (such as a manufacturer’s facility) to another (such as a customer’s distribution center). It includes the exchange of both material and associated information flows (for example, shipment notices). ( U.S. Department of Transportation – Federal Highway Administration)
We hope that this helps you to better understand the model of supply chain. Each definition chosen above talks about the whole, and at the same time highlights key points:
- Management of Components
- Sequence of Steps
- Collection of Activities.
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