Supply Chain

Question 1

What is Supply Chain

Answer 1

The flow of resources, people, and capital, to manufacture and distribute a specific product to a customer.

Question 2

Additive Value

Answer 2

At every step in the supply chain, we add value to the specific product we will deliver to the customer.

Question 3

What is vertical integration?

Answer 3

Vertical integration in the supply chain refers to a company’s ownership and control over multiple stages of production or distribution within the same industry. This can include the production of raw materials, manufacturing, distribution, and retail. By integrating these stages, a company can reduce costs, improve efficiency, and have greater control over the quality and flow of its products.

Question 4

Why or how does outsourcing reduce costs?

Answer 4

Outsourcing allows you to select a product or service from multiple suppliers competing for your business.

Question 5

The value of vertical integration

Answer 5

Leveraging real-time data and information across the supply chain provides more value than outsourcing.