COST ACCOUNTING
INVENTORY AND PRODUCTION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The close co-operation of all parties involved in the making, selling, and delivering ofa product
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Network of stores that supply customers with a wide variety of products
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Detailed explanation-1: -Supply Chain Cooperative Relationship means aligning the activities of two or more organizations in the supply chain to coordinate the supply of goods or services, creating a competitive advantage through improved service or efficiency improvements [1] .
Detailed explanation-2: -In all organizations, supply chain has many parties: suppliers’ suppliers, suppliers, manufacturers, wholesalers, retailers, customers and customers’ customers. Usually each supplier delivers different raw materials and supplies to customer company.
Detailed explanation-3: -The upstream portion of the supply chain includes the organization’s suppliers and the processes for managing relationships with them. The downstream portion consists of the organizations and processes for distributing and delivering products to the final customers.
Detailed explanation-4: -Integration, operations, purchasing and distribution are the four elements of the supply chain that work together to establish a path to competition that is both cost-effective and competitive.