ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Supply-chain networks are now more global than ever and are typically structured with five key areas: external suppliers, production centers, distribution centers (DCs), demand zones, and transportation assets.

Detailed explanation-2: -The production process is a sequence of productive activities leading to an end use-a chain of linked functions, in other words. Each stage adds value to the production sequence. Hence, production chains are often called “value-added” or “value” chains.

Detailed explanation-3: -There are four customary stages in a product’s life cycle: the introductory phase, the growth phase, the maturity phase and the decline phase. Each phase is markedly different and often requires different value chains.

Detailed explanation-4: -1) Clearly define your objectives. 2) Gather supporting data. 3) Model your supply chain network. 4) Analyze your supply chain network. 5) Implement and refine. [Suggested Reading: Unlocking supply chain profits with total delivered cost] 03-Feb-2020