Just-in-time manufacturing is the foundation of supply chain management.
<h3>Describe the meaning of
supply chain management?</h3>
It is possible to describe supply chain management as the effective and efficient management of the flow of goods and services as well as all industrial processes involved in converting raw materials into completed items that satisfy consumers' unquenchable want and demand.
In general, supply chain management includes all of the tasks involved in organising, carrying out, and delivering finished products and services from producers to customers. Through the use of an effective inventory system, it is a management framework that is focused on reducing production costs while boosting efficiency between suppliers and customers.
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Answer:
Since the question is incomplete, we could infer that you like to know how to calculate opportunity cost.
Explanation:
Opportunity cost is the value of the next best alternative or option.
Opportunity Cost= FO−CO
where:
FO=Return on best foregone option
CO=Return on chosen option
Let's take for example, Jose expected return on investment in producing one orange is 20 percent over the next year, and also expects the return of investment for melon to be 18 percent over the same period.
His opportunity cost of choosing the melon over the orange using the formula FO−CO = (20% - 18%), which equals two percentage points.
Answer:
"Net Present Value" is the right approach.
Explanation:
A method used to determining or calculating the gaps between the current valuation of initial investment as well as the outputs of something like development or possible expenditure is termed as net present value.
The formula which is used to find the NPV is given below:
⇒ 
here,
- i = Return required
- t = No. of periods
Answer:
administrative services and transactions, financial services, and strategic partners
