The importance of the supply chain network as a part of the market

Abstract

A supply chain is the network of those involved with the production and distribution of a company’s products. Supply chains involve a multitude of activities, people, entities, information and resources. They incorporate many steps and processes used to deliver products or services to the marketplace. Examples include refining raw materials, manufacturing, transportation, inventory control, finance, retailing, packaging and marketing. Supply chain management is the vital process of planning, tracking and perfecting how goods move throughout the system. Maintaining strong links within your supply chain impacts business costs and profitability. JEL: M13, P4, N70.