The term “Supply chain” has gained a lot of traction in the recent years and the rise of this colloquial term is in line with the escalating importance of managing inventories in the wake of globalization.

Supply chain encapsulates the entire eco-system of producing, shipping, delivering and managing the inventories in way that maximizes the bottom-line profits of the company. In the backdrop of trade liberalization, the importance of a well-functioning, lean and mean supply chain ensures that the resources of companies are put into the best possible use.