Answered: What is a supply chain? In your view,…

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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What is a supply chain? In your view, why did supply chains become global?

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A supply chain is a large and wide process chain beginning from the sourcing of raw materials and ending by delivering the final product to the customer. So one can think about various processes involved in it like supplier management, production, inventory, logistics, etc. Its fundamental concept involves business as well as technical understanding. In simple words to understand the concept, one can just understand how a product is being supplied from the company to the customer. All the intermediaries involved are parts of the supply chain.

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