Supply Chain Management & Procurement

Every business relies on suppliers to provide the raw materials, components, and services needed to operate. Managing the supply chain effectively is essential for controlling costs, maintaining quality, and meeting customer demand.

---

What Is a Supply Chain?

A supply chain is the network of businesses, resources, and activities involved in producing and delivering a product from raw materials to the final consumer.

graph LR
    A[Raw Material Supplier] --> B[Component Manufacturer]
    B --> C[Product Manufacturer]
    C --> D[Distributor / Wholesaler]
    D --> E[Retailer]
    E --> F[Consumer]

Term	Definition
Supply chain	The entire network of businesses involved in producing and delivering a product
Procurement	The process of finding, buying, and receiving goods and services from suppliers
Supplier	A business that provides raw materials, components, or services to another business
Logistics	The planning and management of the movement and storage of goods
Just-in-Time (JIT)	A stock management system where materials are delivered only when needed
Just-in-Case (JIC)	A stock management system where extra stock is held as a buffer

---

Procurement