Describe the activities and processes of Supply Chain Management. 

Supply Chain Management (SCM): Activities and Processes

Supply Chain Management (SCM) is an essential component of logistics management, encompassing a range of activities and processes designed to streamline the flow of goods, information, and services from suppliers to consumers. It aims to optimize the entire supply chain, from raw material acquisition to final product delivery, ensuring efficiency, cost-effectiveness, and customer satisfaction. The key activities and processes of SCM can be broadly categorized into several stages:

1. Demand Planning:
   - Forecasting: Accurate demand forecasting is crucial for aligning supply with customer needs. Techniques such as statistical analysis, historical data review, and market research are employed to predict future demand.
   - Inventory Management: Based on demand forecasts, inventory levels are planned and managed to ensure sufficient stock without overstocking. This involves setting reorder points, safety stock levels, and managing inventory turnover.

2. Procurement and Sourcing:
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