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[ Related to the Economics in Practice ] A supply chain is a specific order of steps taken by a company to get its product
Related to the Economics in Practice A supply chain is a specific order of steps taken by a company to get its product or service to the public. Supply chain management involves managing the flows of goods and services by linking production, shipment, an distribution. Two of the primary goals for businesses using supply chain management are to streamline costs and increase the speed of getting products to consumers. Each year, Gartner, a global research firm, publishes its "Supply Chain Top identifying th that it believes best demonstrate leadership in applying supply chain management to drive business results. The four companies in the "Master's" category, which identifies companies with sustained leadership for the past years, are Apple, Procter & Ga Amazon, and McDonald's Which of the following describe the types of supply chain practices these companies utilize? Check all that apply. A Top supply chain companies like these are careful to use quality sourcing of materials. B These companies focus on efficient inventory management. C They avoid realtime adjustments to the supply chain and take a more deliberate approach. D They embrace new technology throughout the supply chain to lower transaction costs. The supply chain practices these companies utilize have resulted in their production being responsive, causing v in efficiency v in competitiveness, and v in profitability
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