Etini
Valued Contributor
For any productive venture to occur, there must be a good supply of productive inputs and raw materials. The supply of these productive inputs must be managed to ensure efficiency in production. What are the benefits then of optimizing supply chain to a production based business.
1) Reduced cost of production: When the supply chain of a business that engages in production is properly managed, there would be no need for emergency order of productive inputs which can help the company take it's time to source for raw materials.
2) Ability to respond appropriately to market change: When consumer tastes and preferences change, a well managed supply chain would help the business to adjust by reducing or increasing inputs because the chain is agile enough to withstand quick adjustments.
1) Reduced cost of production: When the supply chain of a business that engages in production is properly managed, there would be no need for emergency order of productive inputs which can help the company take it's time to source for raw materials.
2) Ability to respond appropriately to market change: When consumer tastes and preferences change, a well managed supply chain would help the business to adjust by reducing or increasing inputs because the chain is agile enough to withstand quick adjustments.
