Question

The four basic components of Supply Chain Management (SCM) are: ________

Answer 1

The four basic components of Supply Chain Management (SCM) are: Planning, Sourcing, Production, and Distribution.

Step-by-step explanation:

The four basic components of Supply Chain Management (SCM) are:

1. Planning: This involves creating a strategy for sourcing, production, and distribution, as well as forecasting demand and managing inventory.
2. Sourcing: This refers to the process of identifying and selecting suppliers, negotiating contracts, and ensuring the quality of materials and services.
3. Production: This involves the conversion of raw materials into finished products, including managing manufacturing processes, quality control, and optimizing production efficiency.
4. Distribution: This focuses on delivering products to customers, managing transportation logistics, warehouse management, and ensuring timely and accurate fulfillment of orders.