What is supply chain value strategy?
The value chain is a process in which a company adds value to its raw materials to produce products eventually sold to consumers.
The value chain gives companies a competitive advantage in the industry, while the supply chain leads to overall customer satisfaction..
What is efficient supply chain strategy?
An efficient supply chain makes the best use of its resources — financial, human, technological or physical. By doing so minimizes costs for materials and packaging and reduces time wastage.
What are the five categories of supply chain processes?
The Top-level of this model has five different processes which are also known as components of Supply Chain Management – Plan, Source, Make, Deliver and Return. Let’s deep dive into each component: Plan: Planning is imperative to control inventory and manufacturing processes.
What are elements of supply chain?
The elements of a supply chain include all the functions that start with receiving an order to meeting the customer’s request. These functions include product development, marketing, operations, distribution networks, finance, and customer service.
What are the four types of supply chain strategy?
Four Supply Chain Strategies To Drive Digital TransformationCustomer-centricity: Plan and deliver for the segment of one. … Predictive business: Design, make, and maintain the product of one. … Smart automation: Manufacture the lot size of one. … Total visibility: Analyze and manage the supply chain of one.