Fundamentals of Supply Chain Management

In this chapter, an overview of Supply Chain Management (SCM) is provided for the beginner, emphasising its role regarding the flow of goods starting from raw material to end customers, transportation, and resources. It explores fundamental SCM components, including procurement of raw materials, purchase and maintenance of instruments, logistics support, and inventory control, as well as the software used for inventory management and overall SCM system management. Additionally, we address key challenges such as supply fluctuations and disruptions. The study highlights integrating advanced technologies, including artificial intelligence, blockchain, and data analytics, to enhance efficiency and resilience. Also, it discusses the growing importance of sustainability and green supply chain practices. The chapter underscores the significance of innovation and strategic management in developing adaptive and efficient supply chains. Different costs associated with the SCM system are discussed.