MGTA05H3 Study Guide - Final Guide: Lee Valley Tools, Customer Relationship Management, Interchangeable Parts
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MGTA05H3 Full Course Notes
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Mgta05h3 exam review lec 6 to lec 11. Refers to the business practice of attempting to provide the highest level of efficiency within the company done to maximize the profit. The work is logistics and it is the original type of management. Make sure that there are backups available alternate supplier, inventory on hand. Linked network of suppliers and customers: they are linked because each business produces for each other until it reaches the consumers. Must think about what goes on around the business in order to maximize efficiency and profit. More information communicated within the chain, the smoother it is information rather than uncertainty. Consider the chain as one large entity. Good supply chain system depends on: communication systems, time for analyzation, transportation systems. Raw materials processing raw materials business who forms the raw materials into the product distributors customers. The exact amount of supplies/materials needed by the customer are delivered exactly when and where they need it.
