ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What refers to the coordination of production, inventory, location, and transportation among the participants in a supply chain to achieve the best mix of responsiveness and efficiency for the market being served?
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Supply Chain
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Market chain
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -“Supply chain management is the coordination of production, inventory, location, and transportation among the participants in a supply chain to achieve the best mix of responsiveness and efficiency for the market being served.”-my own words.
Detailed explanation-2: -Logistics describes the process of coordinating and moving resources-people, materials, inventory, and equipment-from one location to storage at the desired destination.
Detailed explanation-3: -Transportation refers to the movement of product from one location to another as it makes its way from the beginning of a supply chain to the customer.
There is 1 question to complete.