A typical supply chain may include the following steps/ Conventional Supply Chain management:
- Components / raw materials / product suppliers
- Wholesalers / distributors
Supply Chain Management therefore involves the management of flow of materials and information between and among stages in a supply chain to maximize total profitability.
Participants in a Supply Chain
- Suppliers – They organizations that provide goods and/or services to a purchasing organization (a manufacturer or a distributor). It is often used synonymously with vendors but may also refer to an internal company resource.
- Manufacturers – They are the companies engaged in the original production and assembly of products, equipment or services. They sometime refer to companies that purchase such products or services manufactured or assembled in accordance with company specifications.
- Distributors – Those are the external entities that sell for suppliers or manufacturers directly and often collects all payments from customers and maintains an inventory of the supplier’s or manufacturer’s products.
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