supply chain management

Management of two-way flows of materials, finance, people, and information along the chain from raw material to the customer. At the centre of modern ideas about supply chain management are speed and flexibility. The concept is founded on the image of a chain with continual links between the different stages. Effective supply chain management can lead to processes, people, and material working more efficiently, and can have a significant impact on costs. Removing a link in the supply chain, usually through the use of technology, often leads to improved services at highly competitive prices, something that computer manufacturer Dell achieved by electing to sell computers directly to the public.