The purpose of supply chain management is to efficiently manage the flow of goods, services, and information from raw materials to the end customer.

A key challenge in supply chain management is managing risks and disruptions that can affect the flow of goods, such as transportation delays or supplier failures.

Inventory management ensures that the right quantity of goods is available at the right time, reducing both excess inventory and stockouts.

JIT is an inventory system that aims to reduce inventory holding costs by receiving goods only as they are needed in the production process.

Logistics ensures the efficient transportation, storage, and distribution of goods, which is critical to meeting customer demands and maintaining cost efficiency.

The bullwhip effect is a phenomenon where small fluctuations in demand at the customer level lead to larger fluctuations in inventory at the wholesale, distributor, and manufacturing levels.

Technology improves visibility, communication, and decision-making in supply chain management, helping to automate processes and track products more accurately.

Supplier relationship management is the process of managing and optimizing the relationship with suppliers to improve performance, reduce costs, and ensure quality.

Demand forecasting helps supply chain managers predict future demand for products, which aids in inventory planning, production scheduling, and logistics management.