Final answer:
Measuring and communicating the performance of the supply chain can lead to improved efficiency, reduced costs, and increased customer satisfaction.
Step-by-step explanation:
Measuring and communicating the performance of the supply chain can provide benefits such as improved efficiency, reduced costs, and increased customer satisfaction.
By measuring key performance indicators (KPIs) like on-time delivery, order accuracy, and inventory turnover, companies can identify areas for improvement and make data-driven decisions.
Effective communication within the supply chain helps to coordinate activities, resolve issues quickly, and ensure all stakeholders are aligned.
For example, sharing demand forecasts with suppliers can help them plan production more accurately, reducing lead times and improving overall supply chain performance.