ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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cheap
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wrong
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Either A or B
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None of the above
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Detailed explanation-1: -Supply chain management has five key elements-planning, sourcing raw materials, manufacturing, delivery, and returns. The planning phase refers to developing an overall strategy for the supply chain, while the other four elements specialize in the key requirements for executing that plan.
Detailed explanation-2: -The three key elements of supply is: Inputs cost: If the cost of the input is lower, then the profit for the supplier will be higher. Other goods price: If the price of the competing supplier is lower, then the customers will move to more profitable supplier which will reduce the profit.
Detailed explanation-3: -INTEGRATION. Integration starts at your strategic planning phase and is critical throughout your communications and information sharing and data analysis and storage. OPERATIONS. PURCHASING. DISTRIBUTION.