Let’s discuss the question: an efficient supply chain should be preferred when:. We summarize all relevant answers in section Q&A of website Countrymusicstop.com in category: MMO. See more related questions in the comments below.
What is an efficient supply chain?
An efficient supply chain is one that can make the most optimum use of its resources including financial, human, technological or physical. This results in reducing operational costs for materials and packaging and reduces time wastage.
How can supply chains be more efficient?
- Step 1: Expand your supply chain visibility. …
- Step 2: Develop a good relationship with your suppliers. …
- Step 3: Automate your supply chain processes. …
- Step 4: Implement supply chain software. …
- Step 5: Cultivate supply chain experts.
Efficient Supply Chain Strategy: L5
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Which supply chain is better efficient or responsive?
Supply chain efficiency requires speed, and large, uniform orders. Responsive demands a slower pace, and, sometimes, customized orders. But they both serve the same end goal, and both are equally important.
What is a characteristic of an efficient supply?
Communication – For an efficient supply chain there must be open lines of communication and common goals established between all key supply chain functions. Getting the right pieces in place will cause for a well-organized system that is focused on excellence and a common vision.
What is an example of efficient supply chain?
For efficient supply chains, Amazon is the company that first comes to mind for many people. Amazon is one of the largest internet-based retailers in the world, with the headquarters in Seattle Washington, Amazon also currently operates from thirty other country-specific sites.
Can a supply chain be efficient and responsive?
Yes, a supply chain can and should be both efficient and responsive. A supply chain can be efficient by making optimal use of its resources while at the same time remaining responsive to market forces and customer demands.
Efficient vs Responsive Supply Chains
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Why is responsiveness important in supply chain?
Why is supply chain responsiveness so important? Because it enables manufacturers to: Reduce risk (better supplier performance keeps costs and schedules in-line; underperforming suppliers can be identified and managed).
Does inventory increase efficiency or responsiveness?
Increased inventory levels do, however, reduce the efficiency of the supply chain since they are costly, both in terms of storage cost and cost of capital.
What are the salient features of efficient supply chain?
The most common features of supply chain management software include: Inventory management – for tracking and managing the availability of raw materials, stocked goods or spare parts. This feature can also help with asset management, barcode integration and future inventory and price forecasting.
What makes a great supply chain professional?
5 essential qualities in a supply chain manager
math skills combined with strong analytical and statistical capabilities to understand supply and demand issues. ability to use data to track orders and shipments, sales trends, demand and any weaknesses and inefficiencies.
Efficient Supply Chain Strategies | SCMT 4653
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What is supply chain management characteristics?
It covers the supply of raw materials for the manufacture of a product through to its delivery to the end customer. The supply chain therefore involves the supply, production, storage and distribution processes, and requires coordination between every link in the chain.
What is efficiency and responsiveness?
Share this: A firms ability to satisfy customer requirements in a timely manner is referred to as Responsiveness, while efficiency is a firm’s ability to deliver goods in accordance with the customer’s expectations with least wastage in terms of raw materials, labour and cost.
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