Supply chain refers to the entire system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer. It encompasses the processes of sourcing raw materials, manufacturing, distribution, and delivery, as well as the management of these interconnected steps. The goal of a supply chain is to efficiently fulfill customer demands while minimizing costs and maximizing value. It includes various components, such as suppliers, manufacturers, warehouses, transportation, and retailers, all orchestrated to optimize production flow and inventory management. Effective supply chain management focuses on improving collaboration, transparency, and responsiveness across all parts of the chain to enhance overall organizational performance.
The United States aims to significantly increase its production of electric vehicles (EVs), but to achieve this, it must establish a strong domestic supply chain that includes critical metals and…