Which of the following is a benefit of improved supply chain management practices? A) Higher product pricing B) Minimized waste and lower costs C) Increased surplus management D) R... Which of the following is a benefit of improved supply chain management practices? A) Higher product pricing B) Minimized waste and lower costs C) Increased surplus management D) Reduced customer preferences
Understand the Problem
The question is asking about the advantages associated with enhancing supply chain management practices, specifically identifying which option correctly reflects a positive outcome of improved practices.
Answer
Minimized waste and lower costs
The final answer is minimized waste and lower costs.
Answer for screen readers
The final answer is minimized waste and lower costs.
More Information
Effective supply chain management practices focus on streamlining operations, which directly reduces costs and minimizes waste throughout the production process. This increases profitability for businesses.
Tips
One common mistake is assuming that supply chain improvements automatically lead to higher prices or managing surplus, which is generally not the case. The focus is on efficiency, cost reduction, and customer satisfaction.
Sources
- What Is Supply Chain Management? - IBM - ibm.com
- Supply Chain Management (SCM): How It Works & Why It's Important - investopedia.com
- Digital transformation and supply chain efficiency improvement - NCBI - ncbi.nlm.nih.gov
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