Globalization has significantly impacted Supply Chain Management by expanding the geographical scope of supply chains and increasing the complexity of logistics management. Companies now source materials and products from all over the world, making efficient SCM critical to maintaining competitiveness.

Logistics Management is a crucial component of SCM, focusing on the transportation and storage of goods. Efficient logistics management ensures that products are delivered to the right place, at the right time, and in the right condition.

Cost Leadership involves strategies aimed at becoming the lowest-cost producer in an industry. Effective SCM contributes to cost leadership by streamlining operations and reducing waste, thereby enhancing operational efficiency.

Order Fulfillment is the complete process from receiving an order to delivering the product to the customer. Efficient SCM ensures that this process is smooth and timely, leading to higher customer satisfaction.

Inventory Management involves overseeing the storage and flow of goods to ensure there is enough stock to meet demand without excess. Channel Distribution refers to the pathways through which products flow from manufacturers to consumers. Both are integral parts of SCM, requiring precise coordination to avoid overstocking or stockouts.

Demand Forecasting is the practice of predicting future customer demand to ensure products are available when needed. Accurate demand forecasting is essential for effective SCM, as it informs inventory levels, production schedules, and logistics planning.