Supply Chain Management Meaning
Is the coordination of all supply activities of an organization from its suppliers to its customers. For a retail chain importing clothing from manufacturers in Bangladesh to stores worldwide, effective SCM is crucial. A freight forwarder involved in this process would manage logistics elements like transportation, warehousing, and inventory control, aiming to optimize the supply chain's efficiency and responsiveness. By ensuring that goods move smoothly and efficiently from the factory floor to the retail shelves, SCM plays a pivotal role in reducing costs and improving customer satisfaction in today's globalized market.