Description
The Supply Chain is a network of companies and Supply Chain Management (SCM) is the implementation of cross-functional relationships with key customers and suppliers in that network. Successful SCM requires involvement of all business functions. The COVID-19 pandemic exposed the folly of trying to manage a network of companies with three business functions – purchasing, logistics and manufacturing – all judged on the amount of money saved this year. Responsibility for SCM should rest with the company’s CEO and the leadership team, and the focus should be on value co-creation to drive revenues and profitability.
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