Supply is the willingness and ability of producers to create goods and services to take them to market. Supply is positively related to price given that at higher prices there is an incentive to supply more as higher prices may generate increased revenue and profits.
Between Supplier and till end customer there are many activities. If the emphasis is on a particular operation, it is called process. If emphasis is on value-addition, it is called value-chain. If the emphasis is on movement (material, information, money) then it is called supply chain
SCM Definitions
SCM is a total system Approach to manage flow of informations, materials and services from raw material suppliers through factories and warehouses to the end customer.
SC is a network of facilities that procures raw materials, transforms them into intermediate goods and then final products and delivers the products to customers through a distribution system.
SCM is a strategy to integrate marketing-Distribution-Planning-Manufacturing-Purchase functions to manage individual conflicts.
Supply chain management focuses on how firms utilize their supplier’s processes, technology, capability to enhance competitive advantage, and the coordination of the manufacturing, logistics and materials management functions within an organization (Farley)
SCM -The design and management of seamless, value-added process across organisational boundaries to meet the real needs of the end customer -Institute for Supply Management
SCM- Managing supply and demand, sourcing raw materials and parts, manufacturing and assembly, warehousing and inventory tracking, order entry and order management, distribution across all channels, and delivery to the customer-The Supply Chain Council
