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supply chain management is critical to many organizations and their operations but what are those terms and definitions you need to know to understand supply chains im going to talk about that here today [Music] my name is eric kimberling im the ceo of third stage consulting were an independent consulting firm that helps clients throughout the world on their digital transformation journeys and supply chain management is one of the hottest areas to be in right now its one of the more important parts of any organization simply because supply chains have become so complex over the years theres been global disruptions to the supply chains supply chains are very strained right now in the 2020s and its important to understand what some of those terms and definitions are and what some of those key concepts are in order to understand how supply chains work and how they might apply to your organization and thats what i want to talk about today [Music] procurement is one of the most impor