What does supply chain management involve?

Supply chain management involves the management of the flow of goods and services, which includes all aspects from the procurement of raw materials to the delivery of finished products to consumers. This process encompasses multiple stages, including sourcing, manufacturing, warehousing, logistics, and distribution. Effective supply chain management ensures that products are produced and delivered to the right place at the right time, while optimizing efficiency and minimizing costs.

Other options pertain to different business functions that do not directly involve the comprehensive process of coordinating and overseeing the full lifecycle of a product or service. The management of sales teams and territories focuses primarily on sales operations rather than the broader supply chain. Planning marketing strategies deals with how products are promoted and sold rather than the physical handling and logistics of the products themselves. Alternative product development is centered around creating new products instead of managing the flow of existing goods and services. Hence, the correct choice precisely captures the essence of what supply chain management entails.