Asked by William Johnson on May 16, 2024
Verified
What contributions do successful supply chains make to companies?
Supply Chains
Networks of individuals, organizations, resources, activities, and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, and eventually to the end user.
- Describe the contributions of effective supply chains to business success.
Verified Answer
AC
Alivia CroteauMay 18, 2024
Final Answer :
A supply chain is boundary spanning, that is, encompassing a group of interrelated firms focused on delivering the best price or value products and services to the ultimate customer at the end of the supply chain. It was also noted that a supply chain can manage four important flows, namely, materials/products, information, financials, and demand. An important characteristic of today's world economy is the increasing regional economic integration. The globalized economy has led to multilateral trade promotion and lowered barriers to international business transactions. The best supply chains allow organizations to compete very successfully on a national, regional, and global basis.
Learning Objectives
- Describe the contributions of effective supply chains to business success.
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