Asked by Conor Keehley on Jun 04, 2024
Verified
Explain the supply chain decision-making framework and the role of the four major drivers.
Supply Chain
The network of all the individuals, organizations, resources, activities, and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, and eventually to the customer.
Decision-making Framework
A structured approach or set of guidelines to navigate and systematically make decisions, often involving identifying options, analyzing consequences, and selecting the best course of action.
Four Major Drivers
Refers to the primary forces or factors that drive decision-making, strategy, and success in businesses or other organizations, though the specific drivers can vary by context.
- Understand the supply chain decision-making framework and its impact on supply chain performance.
Verified Answer
Most companies begin with a competitive strategy and then decide what their supply chain strategy ought to be.The supply chain strategy determines how the supply chain should perform with respect to efficiency and responsiveness.The supply chain must then use the supply chain drivers to reach the performance level the supply chain strategy dictates.
Learning Objectives
- Understand the supply chain decision-making framework and its impact on supply chain performance.
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