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Definition of Supply Chain Management & Logistics
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Definition of Supply Chain Management & Logistics Wil Lim Introduction Supply chain management and logistics is rapidly becoming the most important aspect of business success. Those who manage their supply chain and logistics effectively will flourish and prosper, however those who do not may not be around in a few years. Just what is the definition of supply chain management and logistics? Often than not, supply chain management has been confused with the term 'logistics' and 'procurement'. The term supply chain management has been around for the past twenty years and has had a major influence on today's business societies. The term logistics originated seventy years ago from the French word "logistique", (Wilton, 2005) which is derived from the word "loger" meaning quartering troops. However, in today's age, these terms are often used by various industries, associations and academics, each with their own definition of the terms. These terms are often derived from...
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