Question

Among the fundamental changes to marketing and business practice in today's economy is the dramatic increase in the availability of information. This increase in information has created a shift in the balance of power in the supply chain. Who now holds most of the power in today's economy?

Answer 1

Customer

Step-by-step explanation:

With rapid technological advancement, the flow and availability of information has improved drastically. With the advent of the internet and other media of mass reach, information is no longer beyond the reach of masses.

Supply chain management includes all those activities which transform raw materials i.e inputs into finished products i.e output.

Initially it was the manufacturers, wholesalers and retailers who held power in the supply chain activities. Since the information wasn't available to customer, and thus their knowledge of the products was low, the manufacturers dominated the chain.

But gradually, the control has shifted towards the customers and buyers are lot more aware than before and thus, supply chain activities have become customer centric, aimed at providing value to customers.