Explain Drivers of New Supply Chain Systems and Applications?
The Supply Chain Systems and Application consists of five major drivers, and each one of these drivers can be developed to result in more efficiency and be optimized to result in a better outcome.
The five drivers include 1) Production: This driver can be enhanced by expanding the productive capacity of a firm by building factories that can produce more and be more flexible in manufacturing techniques to produce different types of items and output.
2) Location: Choosing a location that is easily accessible to the customers and also helps the firm to store its inventory in an efficient manner
3) Inventory: The responsiveness can be increased by keeping the best qualities of inventory, which would help in keeping a wide range of items, including the ones that are essential for the firm's development.
4) Transportation: Efficiency can be enhanced by the mode of transportation, which is fast, flexible, and can carry large quantities at once, for example, airplanes and trucks.
5) Information: Information is an important factor. It can be used to maximize production capability and to increase efficiency. It has become easier and cheaper to gain information about technology and how to maximize output.
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