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Supply chain management can be defined as the design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally. The quality of any product or service is a key factor in retaining customers. TQM and Six Sigma are methods that can be utilized to maintain the highest quality standards. Do you feel that the cost associated with attaining these levels is worth it for your average small business?
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Comment 2
xxxxxxx, good job on your business example. The control and accounting for inventory can be done through several methods. In order to allow the business to run efficiently, inventory must be monitored constantly and updated regularly. Employee theft and shoplifting can also have a huge effect on inventory control. These represent losses to the company and must be minimized. Are you aware of any computer programs that are designed to control inventory efficiently and easily?
