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Supply Chain Management Introduction In the past production companies run separate inventories in the acquisition, logistics, production and sale records. However, with the rapid nature of globalization, the need to manage all these factors concurrently is on the rise. Globalization means that companies are sourcing materials further and in multiple locations as well as selling products across the globe. It also means that more industries are sharing the same markets. For this reason, producers have to effect high efficiencies to reduce operational cost and improve customer satisfaction simultaneously. (Arndt, 2008) Luckily, this need is accompanied with improved diversification in communication and transportation technologies that ease logistical planning. The result has been a combination of numerous previously independently run departments into the critical concept of supply chain management (SCM). Supply chain management engages a control of the process that includes the procurement of materials, production, marketing and distribution of projects. This process is vital because it determines how well a company does in reducing costs and increasing sales. (Mentzer et al., 2001) A proper management of this segment intricately combines the aspects of time, volume, and cost to ensure maximum value is met. This is because the chief aim of a supply chain management is to reduce inventories. It means that goods must be produced exactly when the consumer needed them and availed at end points for consumption. The products must also be produced in the amounts needed by the consumers to avoid backlog in inventories. (Cooper & Ellram, 1993) To achieve this
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