ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Complying with the demands of environmental pressure groups
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Analysing the environmental footprint of your products
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Subcontracting production to other companies to hide supply chain practices
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Openly sharing supply chain information with customers
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Detailed explanation-1: -“Radical transparency” is about creating a culture that is direct, honest, and shares the inner details of a company and its strategy. There are some great companies that are leading the path in radical transparency: Bridgewater Associates, Buffer, Fitbit, and Patagonia.
Detailed explanation-2: -Supply chain transparency, in essence, means that a business knows exactly what is happening at every stage of its supply chain, and communicates clearly stated, factually backed information about its supply chain operations internally and externally.
Detailed explanation-3: -Ask open-ended questions, provide data-filled answers, and if you don’t know something, be honest and tell the customer you’ll figure it out. Setting the tone of transparency from day one will raise the bar for the relationship moving forward.