Effective sourcing processes within a firm can:
Understand the Problem
The question is asking how effective sourcing impacts a firm's profits and the total supply chain surplus. We need to identify the correct relationship between effective sourcing and these outcomes.
Answer
Effective sourcing processes improve profits, supply chain surplus, and provide a competitive advantage.
Effective sourcing processes within a firm can improve the firm's profits and total supply chain surplus. They can also provide a competitive advantage through better risk management, higher product quality, and effective cost management.
Answer for screen readers
Effective sourcing processes within a firm can improve the firm's profits and total supply chain surplus. They can also provide a competitive advantage through better risk management, higher product quality, and effective cost management.
More Information
Sourcing is a key component of supply chain management that focuses on identifying, evaluating, and selecting the best suppliers, materials, and services to meet a company's needs.
Tips
Focus on the key aspects: profits, supply chain, and competitive advantage.
Sources
- Solved Effective sourcing processes within a firm can | Chegg.com - chegg.com
- Effective Sourcing Processes within a Firm Can Improve Profits for ... - blog.procureport.com
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