Question

____ helps determine what supplies are required for the value chain, what quantities are needed to meet customer demand, how the supplies should be manufactured into finished goods and services, and how the shipment of supplies and products to customers should be scheduled, monitored, and controlled.

Answer 1

Answer:

Supply Chain Management

Explanation:

Supply Chain Management (SCM) involves all activities that are carried out between the time the raw material becomes a finished product. It also to have a critical look into the activities in the supply-side of businesses to ensure that competitive advantage is achieved and customer value is maximized.

Supply Chain Management is categorized into five parts:

1. Planning or Strategizing: Proper planning and documentation is necessary for a successful supply chain process.
2. Source: The location of the raw material must be identified bearing in mind its proximity to the factory or company.
3. Production: The transition from raw materials to finished products must be monitored to ensure that standards are met.
4. Logistics and Delivery: This stage is monitored to ensure that customer value is maximized.
5. Return System: Monitoring and replacement of damaged or defaced goods are necessary goods.