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Course Hero 1 - Module 1 1 1 Define the term supply chain...

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Module 1 1 1. Define the term supply chain. The supply chain is a longer channel stretching from raw materials to components to final products that are carried to final buyers. A supply chain consists of all parties involved, directly or indirectly, in fulfilling a customer request. The supply chain not only includes the manufacturer and suppliers, but also transporters, warehouses, retailers, and customers themselves. Within each organization, such as manufacturer, the supply chain includes all functions involved in receiving and filling a customer request. These functions include, but are not limited to, new product development, marketing, operations, distribution, finance, and customer service. The supply chain for women’s purses starts with hides and moves through tanning, cutting, manufacturing, and the marketing channels to bring products to customers. Each company captures only a certain percentage of the total value generated by the supply chain’s value delivery system. When a company acquires competitors or expands upstream or downstream, its aim is to capture a higher percentage of supply chain value. A typical supply chain may involve a variety of stages. These supply chain stages include: Customers Retailers Wholesalers/Distributors Manufacturers Component/Raw material suppliers A supply chain is dynamic and involves the constant flow of information, product, and funds between different stages. The primary purpose from the existence of any supply chain is to satisfy customer needs,
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Module 1 2 in the process generating profits for itself. The term supply chain conjures up images of product or supply moving from suppliers to manufacturers to distributors to retailers to customers along a chain. It is important to visualize information, funds, and product flows along both directions of this chain. The term supply chain may also imply that only one player is involved at each stage. In reality, a manufacturer may receive material from several suppliers and then supply several distributors. Thus, most supply chains are actually networks. It may be more accurate to use the term supply network or supply web to describe the structure of most supply chains.
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Module 1 3 2. What is the task environment ? The marketing environment consists of the task environment and the broad environment. The task environment includes the actors engaged in producing, distributing, and promoting the offering. The task environment is that segment of the external environment made up of specific outside elements (usually organizations) with which an organization interfaces in the course of conducting its business. The task environment depends on the products and services the organization offers and the locations where it conducts business. Elements of the Task Environment
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Course Hero 1 - Module 1 1 1 Define the term supply chain...

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