ENTREPRENEURSHIP

Detailed explanation-1: -SCM is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. Supply chain activities cover everything from product development, sourcing and production to logistics, as well as the information systems needed to coordinate these activities.

Detailed explanation-2: -Effective supply chain management enables companies to improve product flow through accurate demand and sales forecasting and also improve inventory management to arrest the bullwhip effect and avoid underproduction.

Detailed explanation-3: -In business, supply chain management allows manufacturers to make as many products as needed to meet market demand. It helps retailers reduce excess inventory and lower the cost of storing products.