Scm-Tutorial 1 Answer Sheet

May 5th, 2015
Studypool Tutor
Price: $10 USD

Tutor description

Tutorial 1 Answers 1. In your own words, summarise your understanding of the terms ‘supply chain’ and ‘supply chain management’. A supply chain is the set of value-adding activities that connects a firm’s suppliers to the firm’s customers. It consists of all parties involved, directly or indirectly, in fulfilling a customer request.

Word Count: 884
Showing Page: 1/5
Scm-Tutorial 1 Answer SheetTutorial 1 Answers 1. In your own words, summarise your understanding of the terms supply chain and supply chain management. A supply chain is the set of value-adding activities that connects a firms suppliers to the firms customers. It consists of all parties involved, directly or indirectly, in fulfilling a customer request. The supply chain, which is also referred to as the logistics network, consists of the suppliers, manufacturer centers, transporters, warehouses, retailers, and customers themselves. The reverse logistics activities are also included in the supply chain. Supply chain management is the integration of key business processes from initial raw materials extraction to the final or end customer, including intermediate processing, transportation, and storage activities and delivery to the end customer.2. Provide your reasons why is supply chain management more popular today. There are a number of reasons including emerging trends, the development of faster and bigger computing systems, successes of other companies, software development, the advent of the Internet, and more competition.3. How can a small business like a local sandwich shop or bicycle shop benefit from supply chain management? All businesses including small ones can adopt SCM in piecemeal fashion to suit their needs. Small businesses can still develop supplier alliances, use the Internet to find supplies, and find ways to endear themselves to t

Review from student

Studypool Student
" Excellent work as usual "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1821 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors