Discuss the trade-offs that a firm must consider when determining the focus and comprehensiveness on supply chain security initiatives.
TRADE-OFF: SUPPLY CHAIN SECURITY
Trade-off may be described as a decision that must have to be sacrificed in order to achieve an expectedly better decision that would provide a greater value to the company. As applied to a business organization, the manager may face a trade-off of its plan to increase the salary of workers as a result of his decision to invest in high-tech facilities and equipment to be at par with competitors in the industry.
A business dictionary noted that a trade-off is " a technique of reducing or foregoing one or more desirable outcomes in exchange for increasing or obtaining other desirable outcomes to maximize total return or effectiveness under given circumstances" ...
The expert discusses the trade-offs that a firm must consider when determining the focus and comprehensiveness on supply chain security initiatives.