ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Instead of lowering prices, what do companies do when developing an operation strategy?
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Find ways to reduce number of employees
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Find ways to cut operations-cost
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Find ways to conduct business in 1st-world countries
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Find ways incorporate technology
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Explanation:
Detailed explanation-1: -Consider Manufacturing on Demand or Dropshipping One of the biggest contributing factors to COGS is inventory purchases made throughout the year. The more products you buy, the more costs rise. Rather than stock products that may not sell, brands could reduce their COGS by using a manufactured on-demand strategy.
Detailed explanation-2: -Renegotiate with Suppliers. Start your cost-cutting exercise by looking at the vendors you use. Buy in Larger Quantities. Improve Efficiency. Reduce Wastage. Outsource Tasks. Review Employee Productivity. Cut Energy Usage. Review Finance Arrangements. More items •10-Aug-2022
There is 1 question to complete.