What are the main characteristics of efficient and responsive supply chains?

We characterize supply chains as efficient or responsive. Efficient supply chains are able to deliver products at a low cost, while responsive supply chains are capable of responding quickly to changing con- sumer needs.

What is a characteristic of an agile supply chain?

An agile supply chain is focused on speed, cost efficiency, responsiveness, flexibility, and productivity in the production and delivery of goods. Those are all good characteristics, right?

What is an efficient supply chain?

An efficient supply chain is one that can make the most optimum use of its resources including financial, human, technological or physical. This results in reducing operational costs for materials and packaging and reduces time wastage.

What is responsiveness and efficiency?

Share this: A firms ability to satisfy customer requirements in a timely manner is referred to as Responsiveness, while efficiency is a firm’s ability to deliver goods in accordance with the customer’s expectations with least wastage in terms of raw materials, labour and cost.

What is a characteristic of an efficient supply?

Communication – For an efficient supply chain there must be open lines of communication and common goals established between all key supply chain functions. Getting the right pieces in place will cause for a well-organized system that is focused on excellence and a common vision.

What is risk hedging supply chain?

1. A resilient supply chains that are able to hedge against supply, demand, and price risks by applying a variety of financial and contractual tools.

Which two of the following are characteristics of agile supply chains?

What Are the Characteristics of an Agile Supply Chain?

• Proactive Decision-Making. Producers can readily respond to industry aggravations or disruptions, both those on the horizon as well as ones already underway.
• Innate Flexibility.
• Cost-Effective Operations.
• Profitable Production and Distribution Workflows.

How can you make supply chains more efficient?

5 Tips for Efficient Supply Chain Management

1. Find Dependable Suppliers. One cannot emphasize enough the importance of finding the right suppliers.
2. Invest in Employee Development.
3. Continuous Improvement.
4. Leverage New Technologies.
5. Improve Returns Management.

Can a supply can be efficient and responsive?

Yes, a supply chain can and should be both efficient and responsive. A supply chain can be efficient by making optimal use of its resources while at the same time remaining responsive to market forces and customer demands.

What are characteristics of supply chain?

7 characteristics that next gen supply chains must possess

• Flexibility. Agility has always been important in supply chains.
• Speed of Delivery. Speed is of the essence of the next generation of supply chains.
• Global Reach.
• Optimized Inventory.
• Go Green and Sustainable.
• Proactive Strategy.
• Innovativeness.

What are the five characteristics of e supply chain management?

The activities of E-SCM include the following:

• Supply Chain Replenishment.
• E-Procurement.
• Supply Chain Monitoring and Control Using RFID.
• Inventory Management Using Wireless Devices.
• Collaborative Planning.
• Collaborative Design and Product Development.
• E-Logistics.