This topic contains a solution. Click here to go to the answer

Author Question: Discuss the role of information in the supply chain and how it supports supply chain planning and ... (Read 238 times)

melina_rosy

  • Hero Member
  • *****
  • Posts: 531
Discuss the role of information in the supply chain and how it supports supply chain planning and execution.

Question 2

The comparison of a purchase to expectations is thought to occur whether the item purchased is comprised primarily of search, experience, or credence characteristics.
 a. True
  b. False
 Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mochi09

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

It has been said that information is the lifeline of business, driving effective decisions and actions. It is especially critical to supply chain managers because their direct line of sight to supply chain processes is very limited. Information provides them with insights and visibility into the supply chain activities taking place at distant supplier and customer locations. This visibility of demand, customer orders, delivery status, inventory stock levels, and production schedules provides managers with the knowledge needed to make effective situational assessments and develop appropriate responses. In contrast, limited awareness of external activity would leave the supply chain manager blind to the true situation and unable to make knowledge-driven decisions. Actions would be based on educated guesses with no guarantee of effective outcomes.
A wide variety of information is needed for a supply chain to perform as anticipated. As you read through this book, it will become evident just how important information is for both long-range and day-to-day decision making. Supply chain professionals require information from across the channel for strategic planning issues such as network design, tactical planning and collaboration with supply chain partners, and execution of key processes. This information must effectively flow within the organization and between key participants to ensure the timely flow and control of materials and money in the supply chain.

Answer to Question 2

True




melina_rosy

  • Member
  • Posts: 531
Reply 2 on: Jun 28, 2018
Excellent


jamesnevil303

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

For a complete list of videos, visit our video library