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A supply chain is the network of organisations, activities, and resources involved in producing and delivering a product — from the extraction of raw materials to the final delivery to the customer. Effective supply chain management can provide significant competitive advantages in terms of cost, quality, speed, and reliability.
Key Definition: Supply chain management (SCM) is the coordination of all activities involved in sourcing, procurement, production, and delivery of products, from raw material suppliers to end customers.
A simplified supply chain consists of several stages:
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