Supply chain management (SCM) is the management of the flow of goods and services from the point of origin to the point of consumption. It comprises the coordination and management of the activities of suppliers, manufacturers, retailers, and other organizations involved in the flow of goods and services. SCM aims to improve the efficiency and effectiveness of the supply chain by maximizing the value of the resources it employs, while minimizing waste and risk.

The origins of SCM can be traced back to the early days of industrialization, when businesses began to realize the benefits of coordinating the activities of …