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SCM: Supply chain management, strategic sourcing and procurement services (including contract management)
The process of planning, implementing and controlling the operations of the supply chain as efficiently as possible spanning across
• Warehouse/inventory management
• Direct & indirect procurement
• Transportation
• Planning and scheduling
• Supply chain inventory
It encompasses the planning and management of all activities involved in sourcing, procurement, conversion, and logistics as well as coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and customers.
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