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20 Important supply chain terms that you should know as a business owner

Inventory| 7 mins read

The term ”supply chain” may sound complex, but it just means a system that allows a manufactured product to reach a consumer in one or more steps. A typical supply chain network for a product will consist of a raw materials supplier, a manufacturer, a distributor, a retailer, and a consumer. Depending on who you are and where you are in the chain, you will mostly likely have an upstream (your suppliers, which could be production lines or simply the people you purchase from) and a downstream (your consumers, who are the people you sell to or your disposal mechanisms).

SCM definitions

To build an efficient business supply chain, it’s important that you familiarize yourself with the following concepts:

Supply chain and logistics are a discipline so vast that it is better to take our time exploring it in parts. And to that end, we have focussed only upon those terms that we felt are helpful to SMBs. We will be looking at more supply chain concepts during the course of this year. So, if you have any requests or suggestions then please feel free to drop us an email at support@zoho-inventory.com or let us know your thoughts using the feedback options down below.

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