Explain what themain supply chain risksare and what businessescan do to minimize thoserisks.
Explain what themain supply chain risksare and what businessescan do to minimize thoserisks.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
Explain what the
main supply chain risks
are and what businesses
can do to minimize those
risks.
Expert Solution
Supply chain management (SCM):
Supply chain management is a critical part of any business process. The supply chain is a network that contains links to all areas of the business which require careful planning and skillset to operate it efficiently. When supply chain management is done efficiently it can lower the overall costs and improve profitability. If even a single link breaks down in the supply chain it will affect the entire supply chain performance and can affect the organization's performance to a large extent.
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