Definition of"supply chain" in English
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supply chain
Definitions
Noun
Examples
"The global supply chain faced significant disruptions during the pandemic, leading to shortages of various goods."
The global supply chain faced significant disruptions during the pandemic, leading to shortages of various goods.
"Efficient supply chain management is crucial for companies to reduce costs and ensure timely delivery to customers."
Efficient supply chain management is crucial for companies to reduce costs and ensure timely delivery to customers.
"Understanding the entire supply chain helps businesses identify potential risks and areas for improvement."
Understanding the entire supply chain helps businesses identify potential risks and areas for improvement.
Synonyms
Etymology
The term 'supply' originates from Old French 'soupplier' meaning 'to fill up, complete', and 'chain' from Old French 'chaine', derived from Latin 'catena' meaning 'chain'. The compound term 'supply chain' became widely adopted in business and logistics in the mid-20th century to describe the interconnected sequence of processes involved in production and distribution.
Cultural Notes
In modern global economics, the 'supply chain' is a critical concept, impacting everything from product availability and pricing to international relations and environmental sustainability. Recent events, such as the COVID-19 pandemic and geopolitical conflicts, have highlighted the vulnerability and importance of robust and resilient supply chains worldwide.