ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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as an area which can be left to second tier executives
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being primarily focused on cost reduction
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being primarily focused on top line growth
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being more of a financial concern
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Detailed explanation-1: -CEOs view SCM initiatives as being primarily focused on cost reduction. For businesses, collaboration skills are very important to develop. The primary goal of a differentiation strategy is make your firm’s products appear to be different than your competitors’ products.
Detailed explanation-2: -By managing the supply chain, companies can cut excess costs and deliver products to the consumer faster. This is done by keeping tighter control of internal inventories, internal production, distribution, sales, and the inventories of company vendors.
Detailed explanation-3: -Outsourcing is a way to reduce asset investment to improve asset productivity. Investment in SCM tools is being driven by the need for firms to sense, respond, and execute on demand across multiple functional silos and enterprises. Collaboration starts with expressions of partnership and aligned interests.