What does "supply chain management" involve?

Supply chain management involves managing the flow of goods and services from the initial sourcing of materials to the final delivery of products to customers. This process encompasses various elements, including procurement, production, inventory management, and distribution, all aimed at maximizing quality and efficiency throughout the entire supply chain. The goal is to create a seamless operation that enhances customer satisfaction while optimizing resources and minimizing costs.

In the context of the other options, focusing solely on manufacturing processes limits the scope of supply chain management, which extends beyond just production. Streamlining only the distribution phase neglects the importance of other critical areas like sourcing and inventory management. Lastly, overseeing only supplier contracts overlooks the comprehensive nature of supply chain management, which requires attention to all phases of the supply chain to ensure overall effectiveness and responsiveness to market demands. Therefore, managing the complete flow of goods and services is essential for achieving success in supply chain management.