What is the process of managing the complete flow of goods and services from creation to consumer known as?

The process of managing the complete flow of goods and services from creation to consumer is known as Supply Chain Management. This management encompasses all activities involved in the production and distribution of goods, starting from raw materials and extending all the way to the end user. Supply Chain Management includes the coordination and integration of these activities to optimize the overall flow of products and information, ensuring that the right products are delivered to the right location at the right time while keeping costs as low as possible.

In essence, it emphasizes both the strategic and operational aspects of production and distribution, considering suppliers, manufacturing processes, transportation, warehousing, and customer service as interrelated components of a wider system. By effectively managing the supply chain, organizations can enhance their efficiency, reduce lead times, and improve customer satisfaction, making it a critical function in business operations.

Other options, while related, are more narrowly focused. Logistics Management typically centers on the transportation and storage aspects of the supply chain. Inventory Management deals specifically with the stock levels of products and managing those inventories to meet demand. Production Management focuses on overseeing the manufacturing processes and ensuring products are made effectively, but does not encompass the entire chain of goods and services to the consumer.