Understanding Supply Chain Management Practices for Small and Medium-Sized Enterprises

Abstract

Small and medium enterprises (SMEs) are a major source of dynamism, innovation and flexibility for emerging and developing countries, as well as for the economies of the most industrialised nations. However, the survival and growth of SMEs can be difficult in the current competitive business environment and global marketplace. It can be a real challenge to deliver the right product and service at the most opportune time and at the lowest possible cost to the right customer. The challenge stresses the importance of managing cross-boundary relationships between business partners. For gaining a competitive advantage, supply chain management (SCM) is an effective tool to SMEs. Therefore, this paper aims to review the tenet of SCM, its benefits and practices to SMEs.