week 1 assignment.docx - 24 What is meant by the term the...

This preview shows page 1 out of 1 page.

24. What is meant by the term: the supply chain? How does this impact a firm’s operations strategy? How can a proper supply chain aid a firm in gaining a competitive advantage? Supply chain in simple words means the flow of goods (products or services) to the consumers. As markets demands, customers need their product to be delivered as soon as possible, or more or less as promised on time and with utmost quality. And it is the company’s role in supply chain ethics would need to move the product from raw materials to finished good in the more cost and time effective way as much possible. It wouldn’t be mistaken to say that it’s a market requirement rather than a competitive advantage because that’s what the consumers demand. The consumers want their good as soon as possible, the company should be able to do that. For example, Crude oil from Canada supplies thru pipeline from railways to US, where it goes to

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture