Question

What business approach has enabled walmart to drive prices down and react to market conditions more quickly?

(A) Increased direct marketing
(B) Employee benefit package
(C) Supply chain management system
(D) Store location

Answer 1

(C) Supply chain management system

Step-by-step explanation:

This is the business approach that has enabled Walmart to drive prices down and react to market conditions more quickly. Walmart has been able to achieve this through supply chain management. This refers to the control of the flow of goods and services involved in production. This production usually refers to the whole process of transforming raw materials into final products. Producers who employ this strategy usually do so in order to gain a competitive advantage.

Answer 2

C) Supply chain management system

Step-by-step explanation:

Supply Chain Management (SCM) includes all processes that transform raw materials into final products in order to maximize customer value and gain a competitive advantage in the marketplace. SCM covers everything from production to product development to the information systems needed for the best management.

The supply chain cycle of Wal-Mart includes procurement, manufacturing, distribution, retailing. As a retailer, Wal-Mart has to source its products from vendors domestically and globally, this creates a more effective supply chain that allows for lower prices.