Entire
network of
entities, directly or indirectly interlinked and interdependent in serving the same
consumer or
customer. It
comprises of
vendors that
supply raw material,
producers who convert the
material into
products,
warehouses that
store,
distribution centers that deliver to the
retailers, and retailers who bring the
product to the ultimate
user. Supply chains underlie
value-chains because, without them, no
producer has the
ability to give
customers what they
want, when and where they want, at the
price they want. Producers compete with each other only through their supply chains, and no
degree of
improvement at the
producer's end can make up for the
deficiencies in a supply chain which reduce the producer's ability to compete.
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