Operations and Supply Chain Management
Operations and Supply Chain Management
14th Edition
ISBN: 9780078024023
Author: F. Robert Jacobs
Publisher: MCG
Question
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Chapter 16, Problem 1DQ
Summary Introduction

To explain: The recent changes that have caused supply chain management to gather importance.

Supply chain management:

It is the management of the flow of goods and services. Supply chain management is a broad area that covers everything from the production process to product development.

Expert Solution & Answer
Check Mark

Explanation of Solution

The recent changes that have made supply chain management more importance are:

  • The pressure of competition from other firms.
  • The elevation of product quality is given a higher level of importance.
  • International marketing and purchasing.
  • The increase in trends towards selecting long-term single source of suppliers.
  • The varieties and ranges of products are rapidly changing and the speed at which the product reaches the market is essential.
  • The growth of supplier development.
  • The life cycle of products has shortened making knowledge and control of inventories as a necessity.
  • Technologies like just-in-time have changed the relationship with the suppliers at which the focus is on reducing the inventory.

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