Accounting Principles
Supply Chain Management (SCM) refers to the coordination and management of activities involved in the production and delivery of goods and services, encompassing all processes from raw material sourcing to end-customer delivery. It is a critical component of business strategy, particularly in international contexts where global supply chains add complexity and risk. Effective SCM enables organizations to optimize efficiency, reduce costs, and enhance customer satisfaction. In International Business Strategy, SCM plays a crucial role in managing the challenges of operating in multiple countries, including cultural differences, regulatory compliance, and logistical complexities.