ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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true
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false
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Either A or B
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None of the above
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Detailed explanation-1: -Corporate executives are already well aware of supply chain management. CEO’s view SCM as being primarily focused on cost reduction. An example of time-based strategy is the trade offs between transportation, inventory, and warehousing. Decision making is a part of the Cycle Time Reduction Strategy.
Detailed explanation-2: -Information sharing is a vital aspect of coordination amongst parties in a supply chain. Information sharing can increase supply chain efficiency by reducing inventories and smoothing production.
Detailed explanation-3: -The first principle of supply chain management is to segment customers based on profit. The fourth principle of supply chain management is to differentiate products closer to the customer. Technology and data are already very well integrated into supply chain management.