Supply Chain Management Flashcards
1
Q
Define supply chain management
A
Is the range of suppliers from which the business purchases materials and resources. It covers the entire flow of materials to the customers.
2
Q
Why is it important for the supply chain to be managed well?
A
- So that a quality product can be be produced in an efficient manner.
- Allows a business to get their products to customers faster than their competitors.
3
Q
Advantages of supply chain management
A
- Quality products are produced
- Quality checks ensure suppliers and raw materials meet quality standards.
4
Q
Disadvantage of supply chain management
A
Reliant on strong relationship with suppliers, if this breaks down it threatens production
