How has the use of supply chain management resulted in a radical reformulation of traditional marketing, production, and distribution functions?
What will be an ideal response?
ANSWER: The use of supply chain management has resulted in a customer-driven view of traditional marketing, production, and distribution functions. It has reversed the flow of demand from a "push" to a "pull." Through the channel partnering of suppliers, manufacturers, wholesalers, and retailers along the whole supply chain who work together toward the common goal of creating customer value, supply chain management allows companies to respond to the unique product configuration and mix of services demanded by customers. Thus, supply chain management communicates customer demands from the point of sale all the way to the supplier. In addition, supply chain management engineers the timely and cost-effective flow of goods through the entire supply pipeline.
You might also like to view...
Which factor in the external environment IS the customer base?
A. Social B. Environmental C. Economic D. None of these
In the context of changing environments, identify a true statement about environmental uncertainty.
Question options: It is most likely to be high when there is technological stability in the industry. It is most likely to be high when the industry is at an equilibrium state. It is most likely to be low when environmental complexity is at a low level. It is most likely to be low when environmental change is extensive.