What does the term “supply chain management” encompass?

The term "supply chain management" encompasses a broad range of activities and processes that are essential for the effective flow of goods, services, and information from suppliers to customers. The correct answer highlights that planning and control of supply chain activities are fundamental components of supply chain management. This includes not just the movement of products but also the coordination and optimization of various interconnected activities.

By effectively planning and controlling these activities, businesses can improve efficiency, reduce costs, and enhance customer satisfaction. This involves various functions such as demand forecasting, inventory management, procurement, logistics, and performance measurement, all of which work in synchronization to deliver value.

In contrast, the other options are limited in scope; they either focus on a single aspect of the supply chain (such as only transportation, sourcing, or delivery efficiency) rather than the comprehensive management that encompasses all these areas and more. Supply chain management is inherently interdisciplinary and requires an integrated approach to ensure all components function collaboratively.