A supply chain is a complex and dynamic network of organisations, people, information, processes and resources involved in moving a product or service from supplier to customer. Supply chain activities include the production, handling and distribution of materials and finished products or providing a service to the customer.
Procurement or sourcing seeks to find, evaluate and engage suppliers to achieve cost savings and best value for goods and services which can be done through a tender process. Factors such as reliability, quality, flexibility and capacity are considered in the tendering process alongside price.
Andrea Reynolds; Ian Thompson
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... [A] well-managed reverse logistics system allows the company to retain contact with customers and derive valuable feedback from them (O’Connell, 2007).
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