Supply Management

In this chapter, we discuss an important topic of SCM, i.e., supply management. First, we introduce procurement and the differences between vertical integration and outsourcing. Then, we discuss the important role of supplier selection in supply management. Supplier evaluation and supplier relationship management for effective supply management are also introduced. Next, we provide a brief discussion on supply risk management as supply disruptions are not uncommon in supply chains. In the latter sections, we demonstrate supplier selection examples in Python, and a few popular regression algorithms including linear regression, Support Vector Machines, Decision Trees, Random Forests and Extra-Trees.