Question: This week we are to answer the following three questions. What is your definition of supply chain management? The way I would define Supply Chain
This week we are to answer the following three questions. What is your definition of supply chain management? The way I would define Supply Chain management as the oversight of processes and coordination of all activities involved in getting a product from the state of being a raw material thru delivering a finished product to the customer. According to the video, these steps would include Marketing, Product design, securing suppliers, manufacturing, logistics and finally the customer and if needed reverser logistics to handle damaged or returned products (TheCSCMP, 2009) List and describe the components of supply chain management Planning, which is the forecasting of demand, scheduling of production and controlling inventory. Sourcing, Selecting best suppliers capable of delivering the correct items at the needed times. Manufacturing, the process of building the product for sale. Logistics the process of arranging transportation, warehousing and fulfillment of orders in a timely manner. Customer Service the managing of sales, and product availability Reverse logistics the handling of returns and deciding on proper disposition whether that be reconditing for resale, recycling or disposal. (TheKnowledgeAcademy, n.d.) What are issues or challenges facing today's supply chain? Some of the unplanned issues and challenges supply chain managers face include. Unplanned disruptions such as natural disasters, pandemics such as the Covid 19 pandemic, political tensions and regional or even possibly global conflict. Rising costs such as fuel, raw materials and labor. Sustainab
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