ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lots of outsourcing
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Market competition
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Technological development
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The market is getting wider
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Detailed explanation-1: -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.
Detailed explanation-2: -Logistics focuses on the movement and storage of items in the supply chain. Supply chain management (SCM) is more comprehensive, covering all of the coordination between partners that have a role in this network, including sourcing, manufacturing, transporting, storing and selling.
Detailed explanation-3: -Running an efficient supply chain that is based on good supplier relationships, maintains strict quality and stock control, and keeps a watchful eye on costs and prices can greatly benefit a business’s liquidity by improving cash flow.