What is a supply-chain?
A supply chain is a network of organizations, people, activities, information, and resources involved in the production, handling, and distribution of a product or service. It includes all of the steps involved in getting a product or service from the supplier to the customer. The supply chain starts with the raw materials and components that go into making a product, and ends with the delivery of the finished product to the end customer.
In a supply chain, raw materials and components are transformed into finished products through a series of steps that may include manufacturing, assembly, testing, packaging, and distribution. Along the way, the product may pass through various stages of production, such as research and development, design, and sourcing of materials. It may also involve transportation and storage at various stages of the supply chain.
The goal of a supply chain is to get the right product to the right place at the right time, in the most cost-effective way possible. To achieve this, supply chain management involves coordinating the flow of materials, information, and finances between all of the organizations and activities in the supply chain. This includes managing inventory levels, forecasting demand, and identifying and mitigating potential risks or bottlenecks in the supply chain.