Question

Describe the implications of a successful supply chain management strategy to a business in today's competitive global economy.

Answer 1

There are some ramifications of a effective supply chains strategy approach for a company in today's dynamic world economy :-

1. Alignment of Supply Chain responsibilities:

The supply chain has too many layers of chains in service, and it is necessary to have a policy of distributing duties and responsibilities at all layers to minimize the sluggish cycle of working conditions.

2. Use of Technology:

The best technologies will improve supply chain processes and optimize production. You need to upgrade yourself with the latest software that is perfect and helpful for your company. One of the key benefits of effective discharge systems is the exposure of any piece somewhere in the global supply chain.

3. Alignment of Supply Chain responsibilities:

The supply chain has too many layers of chains in service, and it is necessary to have a policy of distributing duties at all layers to minimize the sluggish cycle of working conditions.