Innovation, technology, the environment and regulatory compliance all play a role

By Diana Berry

Supply chain management is three decades old and still evolving. While there is no standard definition, defines supply chain management as the "management of material and information flow in a supply chain to provide the highest degree of customer satisfaction at the lowest possible cost. Supply chain management requires the commitment of supply chain partners to work closely to coordinate order generation, order taking and order fulfillment. They thereby create an extended enterprise spreading far beyond the producer's location."

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