ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is true of AGILE supply
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Agile supply prioritises cost reduction
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Agile supply prioritises adaptability
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Agile supply is best for predictable market demand
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Agile supply is best for commodity products
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Explanation:
Detailed explanation-1: -The modern agile supply chain is based around four major component strategies, virtual integration, process alignment, shared chain responsibility, and market sensitivity.
Detailed explanation-2: -According to most experts, there are three main success factors in effective and agile supply chains: your supplier relationships, your people, and the effective use of the supporting technology.
Detailed explanation-3: -The key characteristics of an agile supply chain are its flexibility and resiliency. It’s important to differentiate this concept from the ethos of lean supply chains and lean manufacturing, which focuses primarily on trimming “fat” (e.g. inventory, cost) wherever possible.
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