MKT 320F Lecture Notes - Lecture 5: Advantageous, Critical Role, Finished Good
Document Summary
Chapter 13: supply chain management - sections (13. 1 - 13. 6) Supply chain: includes all of the companies involved in all of the upstream and downstream flows of products, services, finances and information - from initial suppliers (point of origin) to the ultimate consumer (point of consumption) By visualizing the entire supply chain, managers can maximize strengths and efficiencies at each level to balance the supply and demand needs of each member in the supply chain - reflects a customer-driven philosophy. Supply chain agility: an operational strategy focused on inducing inventory velocity and operational flexibility simultaneously in the supply chain. In a supply chain, agility, which involves having a nimble quality, allows companies to adapt quickly to customer needs while reducing costs and increasing satisfaction. Companies that focus on supply chain commonly reports lower inventory, transportation, warehousing, and packaging costs; greater supply chain flexibility; improved customer service; and higher revenues.
