Supply Chain Management

The process of managing the external relationships in your business, principally involving companies that supply goods and services to your business. The theory is that the more efficient your supply chain is in terms of reducing the time and cost of working with supplier companies, the greater your profits through reducing your operational costs.

A business can use its broadband connection to forge closer links with suppliers, enabling online inventory control and stock ordering, and gain the efficiencies normally only available to large purchasers.

Supply Chain Management - The Basics: (click to read)