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Questions and Answers
What is the primary focus of supply chain management?
What is the primary focus of supply chain management?
- Maximizing customer satisfaction
- Minimizing costs throughout the supply chain
- Coordinating logistics and inventory management (correct)
- Ensuring the quality of the final product
How does supply chain differ from value chain?
How does supply chain differ from value chain?
- Supply chain management is limited to manufacturing, while value chain includes service delivery
- Supply chain is customer-oriented while value chain is supplier-oriented
- Supply chain encompasses all stages of production while value chain focuses only on the production process
- Supply chain management deals with logistics, while value chain addresses activities that create customer value (correct)
Which of the following best describes the value chain?
Which of the following best describes the value chain?
- An organizational structure focused on production efficiency
- A sequence of supply activities leading to cost reduction
- A network of suppliers and distributors managing product flow
- A series of processes that enhance customer satisfaction directly (correct)
In which of the following areas do supply chain and value chain primarily overlap?
In which of the following areas do supply chain and value chain primarily overlap?
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Which of the following statements is NOT true about supply chain management?
Which of the following statements is NOT true about supply chain management?
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