Business Administration 3304K Study Guide - Final Guide: Mass Customization
Supply chain management seeks to synchronize a firm"s process and those if its suppliers and customers to match the flow of materials, services, and information with customer demand achieves competitive priorities. Management must design and leverage the firm"s supply chain both to acquire supporting goods and services to reach the customer as customer interaction increases in the service process, the complexity and challenges also tend to increase. Inventory a stock of items including materials, orders, information, and people that flow through or are used in a process to satisfy customer demand raw materials items used as inputs for the production of goods and services. Work in progress items partway through a process that are needed for a final product or service finished goods items that have completed the manufacturing or service process. Backward integration: controlling interest in the firm"s major suppliers improves efficiency and productivity. Holding first-tier suppliers accountable for performance of their suppliers.