4 Questions
Which of the following best describes the objective of every supply chain?
To maximize overall value generated
What is the supply chain surplus?
The difference between the value of the final product and the costs incurred by the supply chain
How can the value of the final product be estimated?
By determining the maximum price the customer is willing to pay
What happens to the difference between the value of the product and its price?
It remains with the customer as consumer surplus
Test your knowledge on supply chain management and learn about the concept of supply chain surplus. Explore how to maximize overall value generated and understand the relationship between customer value and supply chain costs.
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