Question

What management approach coordinates business processes across companies to better serve end consumers?

a) Interlinked management
b) Business collaboration
c) Supply chain management
d) Business integration

Answer 1

Supply chain management (SCM) is the correct answer to the question; it is the approach that coordinates business processes across companies to better serve end consumers.

Step-by-step explanation:

The management approach that coordinates business processes across companies to better serve end consumers is known as Supply chain management (SCM). SCM involves the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. It covers everything from production to product development, sourcing, logistics, and the information systems needed to coordinate these activities.

The management of supply chains is concerned with the coordination and collaboration of suppliers, intermediaries, third-party service providers, and customers. The main goal of supply chain management is to improve trust and collaboration among supply chain partners, thus improving inventory visibility and the velocity of inventory movement.