human
I'm trying to understand what supply chain management means. Can you give me an overview?
assistant
Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer. It includes coordination and collaboration with channel partners and often involves the management of detailed information related to coordinating complex supply and demand networks. The goal of SCM is to improve the long-term performance of both the supplier and the customer, while reducing costs and timescales of the supply chain as a whole. Additionally, SCM is designed to integrate and streamline all major business functions and processes, from product development and sourcing to production, logistics, and fulfillment. By doing so, an organization can cut down on time and cost, increase customer satisfaction and deliver better products faster.