Discuss the six strategic formulations of supply chain management. Is it possible to implement last mile delivery of distribution in Dhaka city?
Discuss the six strategic formulations of
Note: Please answer the question with points and example
Urgent needed within 30min
Supply chain management can be broadly defined as the set of approaches that are utilized efficiently to integrate suppliers, manufacturers, warehouses, and stores so that the product or service is produced and distributed at right quantities, to the right locations, and at the right time. This is achieved to minimize the systemwide costs and satisfying the service level requirements.
The strategic formulations of supply chain management are,
1. Instituting automated inventory control:
Automated inventory control will ensure to maintain a balanced turnover ratio, further ensuring that enough stock is there in hand to satisfy the demand without spending too much on holding costs for excess inventory that may become obsolete or get deteriorated. Further, it also eliminates the auditing errors by protecting the inventory against thefts
Step by step
Solved in 4 steps
