Asked by Michael Culham on May 07, 2024
Verified
In a supply chain for commodity products,in order to maximize supply chain surplus,the objective of supply chain members should be to
A) supplement the product with a service.
B) maximize revenue.
C) minimize costs.
D) de-commoditize the product.
Supply Chain Surplus
The total value created throughout the supply chain, calculated as the difference between the value of the final product to the end consumer and the costs incurred in bringing the product to market.
Commodity Products
Fundamental products utilized in trade that can be exchanged with other products of a similar kind.
Maximize Revenue
A strategy or approach aimed at increasing the total income generated from sales of goods or services, before any expenses are subtracted.
- Determine the positive outcomes of supply chain synchronization on maximizing the entire supply chain's profitability.
Verified Answer
Learning Objectives
- Determine the positive outcomes of supply chain synchronization on maximizing the entire supply chain's profitability.
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