Supply Chain

From Wikipedia, the free, on-line encyclopedia:

A supply chain or logistics network is the system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains.

Entrepreneurs have to pay attention to their supply chains. It's the way they have a business. It helps them compete against other entrepreneurs. There's even a verb now, "supplychaining" which means using your supply chain to create competitive advantage.

Actually, this isn't new. Industry has been using "just in time" supply to make sure that supplies reach the assembly just before they are needed. This keeps production moving smoothly and material doesn't sit around too long deteriorating or risking some even that would damage it and reducing costs of production.

What do you think about this? Read the Wikipedia article and the references cited there. And post a comment.

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