Supply Chain Management

Supply Chain Definitions

If you are interested in the field of supply chain management, then it would be helpful if you were familiar with many of the supply chain definitions. Some of the words that are associated with supply chain management may seem quite familiar to you. However, some of them may have a slightly different meaning than the definition that is familiar to you.

Supply Chain - Movement of materials from a starting point (raw materials) to an ending point (consumer).

The supply chain functions in the following order:

• Raw Materials - Goods that are unfinished that are used to produce goods that are finished.
• Manufacturing - The use of raw materials to produce goods that are finished products.
• Distribution - Distributing or providing goods to the marketplace.
• Consumer - The end stage of the supply chain. The buyer of finished goods or products.
• Forecasting - Making an estimation of what the demand for a product or products will be in the future.
• Transportation - The shipments of the finished goods or products to the warehouse, distribution center, or marketplace.
• Warehousing - A holding area for materials that are used to produce finished goods, or a holding area used to store the actual finished product.
• Inventory - The available stock of finished goods that are held in a warehouse or distribution center.

Supply chain definitions are helpful to those who want to find out more about supply chain management. Supply chain management has many facets and knowing the specific supply chain definitions can assist a person in his or her understanding of the whole process of supply chain management.

To find out more about supply chain definitions, do some research on your own by using the world wide web. There are on line sites that contain supply chain definitions as well as detailed explanations about the components of the supply chain. Within each stage of the supply chain there are many different things that happen.

If you are interested in a career in supply chain management, a degree with a concentration in supply chain management would be the way to go. Knowing the definitions of supply chain management can help you be more successful in obtaining your degree by giving you background knowledge in the field.

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