Supply chain

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The main entity in this text is the Supply Chain. It is an essential process in business that entails the movement and conversion of raw materials into final products that reach consumers. This process involves multiple stages, including sourcing materials from suppliers, manufacturing products, distributing them through various channels, and selling them to customers. Managing this process efficiently, known as Supply Chain Management, is critical for businesses to save costs, improve customer[1] satisfaction, and respond swiftly to market changes. It is also becoming increasingly important to consider social responsibility and security[3] regulations in supply chain management. The supply chain process is subject to different types and models, and its performance and resilience are key factors for success. Technology[2] adoption, sustainability, e-commerce, and data analytics are emerging trends in supply chains, while global uncertainties, balance between efficiency and responsiveness, transparency, cybersecurity, and skills gap pose significant challenges.

Terms definitions
1. customer.
1 The primary entity in this text is the 'customer.' A customer is an individual or entity that purchases goods or services from a business. They are crucial participants in the commercial landscape, forming relationships with businesses through transactions. Customers can also be classified as 'clients,' especially when they receive tailored advice or solutions from a business. The term 'client' originates from Latin, implying a sense of leaning or bending towards a business. Customers vary in types - from end customers who directly buy products or services, to industrial customers who incorporate these goods or services into their own offerings. These customers can have different relationships with the business, such as being employers in construction projects. Businesses often segment their customers into different categories, like entrepreneurs or end users, to better understand and serve them. The understanding and management of customer relationships is a critical area of study and practice in business.
2 The primary entity in this text is the 'customer.' A customer is an individual or entity that purchases goods or services from a business. They are crucial participants in the commercial landscape, forming relationships with businesses through transactions. Customers can also be classified as 'clients,' especially when they receive tailored advice or solutions from a business. The term 'client' originates from Latin, implying a sense of leaning or bending towards a business. Customers vary in types - from end customers who directly buy products or services, to industrial customers who incorporate these goods or services into their own offerings. These customers can have different relationships with the business, such as being employers in construction projects. Businesses often segment their customers into different categories, like entrepreneurs or end users, to better understand and serve them. The understanding and management of customer relationships is a critical area of study and practice in business.
2. Technology ( Technology ) Technology, derived from the Greek words meaning craft and knowledge, is a broad term that refers to the tools, machines, and systems developed by humans to solve problems or fulfill objectives. Originating with primitive tools like stone axes and the discovery of fire, technology has evolved significantly throughout human history. It has been instrumental in different eras, from the invention of the wheel and advanced irrigation systems in ancient civilizations to the birth of universities and printing press during the medieval and Renaissance periods. The Industrial Revolution in the 18th century marked a significant shift in mass production and innovation, giving rise to modern technologies like electricity, automobiles, and digital communication platforms. Today, technology is integral to various aspects of life and society, driving economic growth and societal change, while also raising concerns about security, privacy, and environmental impacts. The future of technology is expected to bring even more advancements, with the rise of artificial intelligence predicted to have significant implications for the job market.
Supply chain (Wikipedia)

A supply chain, sometimes expressed as a "supply-chain", is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them to end consumers or end customers. Meanwhile, supply chain management deals with the flow of goods within the supply chain in the most efficient manner.

Supply and demand stacked in a conceptual chain.

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. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on.

The phrase "supply chain" may have been first published in a 1905 article in The Independent which briefly mentions the difficulty of "keeping a supply chain with India unbroken" during the British expedition to Tibet.

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