For a company to have a successful supply chain what are some of the sound practices the company could use to maximize value to their consumers.
Managers are often confused with the objectives of catering to the customers' mounting demands and at the same time, attend to the company's need for growth and profitability. However, savvy managers have discovered that they must think of the supply chain as a whole with all the links involved in the managing of the flow of the products and services from the suppliers to the customers. They have also understood to pursue tangible outcomes, that is, focus on asset utilization, cost, and revenue growth. These managers realize that they must work on coordinating the activities across the supply chain for the purpose of creating value for customers and at the same time, increasing the profitability not only of the company he is connected but also of every link in the chain. This is the real measure of success of a supply chain.
The following are some supply chain initiatives that came from the most successful supply chain management systems:
1. Segment customers according to their needs and adapt the supply chain to serve the needs of the segments profitably. This can ...
The solution lists down and explains the sound practices that a company can use to have a successful supply chain and maximize value to their consumers. Reference included.