The idea of Supply Chain Management was popularized in the 1980s. As businesses grew bigger, transport networks grew faster, and supply chains grew more complicated, companies began to feel the need for processes to help ensure that everything ran smoothly.
Keith Oliver, a consultant at Booz Allen Hamilton, is widely credited as having "invented" the term after he used it in an interview for the Financial Times back in 1982, but the concept was in use in many companies before then.
Watching Over Your Business
Whether your business is large or small, you probably deal with a lot of different companies. Keeping track of suppliers, delivery companies, production facilities and warehouses can be tricky. If something goes wrong at any point in the process, it can delay every other part of the process. Knowing who your suppliers are, how long they usually take to do their job, and how long your company could operate as normal if there was a hold-up at their point in the chain is essential.