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Supply chain

Supply chain refers to the network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers. In the context of energy commodities, the supply chain encompasses all the stages ranging from the extraction of raw materials (such as oil, natural gas, or coal), transport, refining, storage, and distribution until it reaches the consumer in the form of fuel, electricity, or other energy-related products.

A supply chain involves multiple steps such as procurement, production, processing, and logistics, as well as the information systems needed to coordinate these activities effectively and efficiently. The objective of supply chain management is to ensure that the entire process runs smoothly, is cost-efficient, and delivers high-quality products on time to consumers, while also maintaining sustainability and compliance with environmental and social standards.

For anyone interested in learning more about supply chains, the following two websites provide valuable and reliable information:

1. Council of Supply Chain Management Professionals (CSCMP)
The CSCMP is a leading resource for supply chain research, information, and education. Their educational resources cover a wide range of topics related to supply chain, logistics, and transportation.

2. Institute for Supply Management (ISM)
The ISM is another prominent organization that offers educational resources, training, and certifications in supply chain management. They are known for their extensive research and development of industry standards.

This A.I.-generated glossary is intended to provide a convenient means to understand terminology used on this website in the context of physical commodities trading. Some terms may have alternative and/or expanded definitions that may not be relevant here and thus not included. Sources provided are for reference and not intended to be an endorsement of the broader content on that website. Suggestions, questions, or corrections can be provided in the comment box on definition pages.