ENTREPRENEURSHIP

Detailed explanation-1: -A supply chain starts with the delivery of raw materials from a supplier to a manufacturer and ends with the delivery of the finished product or service to the end consumer. SCM oversees each touchpoint of a company’s product or service, from initial creation to the final sale.

Detailed explanation-2: -The planning stage Planning is the first step in the supply chain process. In this step, a plan is created to manage all the required resources to meet the demands of the end customers.

Detailed explanation-3: -There are four customary stages in a product’s life cycle: the introductory phase, the growth phase, the maturity phase and the decline phase. Each phase is markedly different and often requires different value chains. Supply managers need to craft supply strategies that reflect the unique needs of each phase.