This chapter begins by defining the concepts of supply chain and supply chain management. Eight critical processes of supply chain management are listed. Key considerations of maintaining supply chain stability and flexibility are also discussed. Subsequently, some existing supply chain management approaches are reviewed. There are four flaws in past supply chain management research: unstable collaboration among participants, delayed responses in timely communication, assumptions and constraints of simplified mathematical programming models, and lack of managerial insight. Subsequently, some existing semiconductor supply chain management methods are reviewed. Based on the review results, the problems faced by existing supply chain management methods in the semiconductor manufacturing industry are summarized. Fab localization, an unprecedented change in semiconductor manufacturing, is then highlighted. Localization in the era of globalization is different from the current trend. The former built factories close to customers at the end of the supply chain, while the latter aims to build new production capacity close to customers in the upstream of a semiconductor supply chain. Finally, several issues that need to be addressed for this type of localization are raised.