Supply chain

Definition

A supply chain encompasses all the processes involved in producing and delivering a product or service, from raw materials sourcing to production, and ultimately to the consumer. It includes manufacturers, suppliers, transporters, warehouses, retailers, and customers.

Related terms

Inventory Management: The practice of ordering, storing, using, and selling a company's inventory.

Logistics: The detailed coordination of complex operations involving people, facilities, or supplies in movement from one location to another.

Procurement: The process of finding and agreeing to terms, and acquiring goods, services or works from an external source