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Supply Chain Management

Many companies can gain competitive advantages over their competitors by reducing their costs in areas of their supply chain management. Acquisitions are one way a company can realize these savings. Do you think that research and development that reduces the time to make a product can have big advantages in a supply chain? Why or why not?

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The response addresses the queries posted in 616 words with references.

//Before writing about the importance of Supply Chain Management, we have to understand the concept of supply chain and the activities involved in the supply chain. Then, we will discuss about the effectiveness of Supply Chain Management and the acquisition strategies for reducing the cost in different areas of this management.//

Supply Chain Management

Supply chain is a network of distribution and facilities options that performs the function of procurement of materials, conversion of these materials into intermediate and finished goods and the supply of these finished goods to the ultimate consumers, for e.g. For a single product, supply chain consists of flow of raw material from vendors, transformation into finished goods I.e. Interflow of materials, transportation to distribution centers and supply activities for serving the ultimate customers. The flow of materials is not always along a tree-like network, various modes of transportation and the ...

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