Question

discuss the goal of supply chain and the explain the impact of supply chain decisions on the success of a firm

Answer 1

answer-

supply chain is the chain of activities which involves the production of product and services and distribution of that commodity to end customer.In this context, we can say that Goal of supply chain is to manage(organize,coordinate and control) the production and distribution activities to meet the demand of customers at low cost and maximize the profit of a firm.

Supply chain decisions and its management has very crucial impact of success of a firm because If supply chain of a firm is effective then it can provide the benefits like-

Firm can enjoy the profit while reducing the cost of supply of commodity.

Firm can create outstanding value to customers by meeting their demand by supply products or services on right time and right place.

Firm can have loyal and satisfied customers because of effective supply chain decisions.

firm can enhance organizational responsiveness, build network resiliency, and facilitate financial success .

By making good supply chain decisions, firm can have good relationships with suppliers and other channel members like whole sellers, retailers etc.

Firm with good supply chain decisions can have higher revenues and control inventory,warehousing and packaging costs.

all these above points can be achieved by having good supply chain decisions which can lead a firm to success like Walmart has good supply chain and based on that Walmart is considered as low cost leader in the industry.

*hope above answer would help you if did pls do give positive ratings.i would appreciate it greatly. thankx