Question

If you were given the opportunity to identify a location for your company and were given two outcomes would you prefer to be:

a) Close to the suppliers/raw material

b) Close to your customers/vendors

Answer 1

When deciding on a company location, it is important to consider being close to suppliers/raw materials and close to customers/vendors. Being close to suppliers/raw materials reduces transportation costs and allows for easier access to resources. Being close to customers/vendors improves customer service and responsiveness.

Step-by-step explanation:

When deciding on a location for a company, there are several factors to consider. These include being close to suppliers/raw materials and being close to customers/vendors. Both options have their advantages and it ultimately depends on the nature of the business. Being close to suppliers/raw materials can reduce transportation costs and allow for easier access to resources. On the other hand, being close to customers/vendors can improve customer service, responsiveness, and reduce lead times.