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The supply chain management philosophy emerged in which decade?
(A) 1960s
(B) 1970s
(C) 1980s
(D) 1990s?
(A) 1960s
(B) 1970s
(C) 1980s
(D) 1990s?
Most Upvoted Answer
The supply chain management philosophy emerged in which decade?(A) 196...
Supply Chain Management Philosophy
The supply chain management philosophy emerged in the 1980s.
What is Supply Chain Management?
Supply chain management (SCM) is the coordination and management of activities involved in the production and delivery of goods and services. SCM encompasses everything from product development, sourcing, production, and logistics to the information systems needed to coordinate these activities.
Early History of SCM
The roots of SCM can be traced back to the early 1900s, when businesses began to focus on the efficiency of their operations. However, it wasn't until the 1960s and 1970s that the concept really began to take shape, with companies such as Toyota and Walmart pioneering new approaches to supply chain management.
The Emergence of SCM in the 1980s
The 1980s saw a significant shift in the way that businesses approached supply chain management. With the advent of new technologies and the globalization of markets, companies began to recognize the need for a more integrated and strategic approach to SCM.
During this time, many businesses began to adopt a "just-in-time" (JIT) approach to inventory management, which involved reducing inventory levels to the bare minimum needed to meet customer demand. This approach helped to reduce costs and improve efficiency, but it also required a great deal of coordination and collaboration between different parts of the supply chain.
As a result, many businesses began to focus on building stronger relationships with their suppliers and customers, and on improving communication and collaboration across the entire supply chain. This led to the development of new tools and techniques for managing supply chains, such as computerized inventory management systems and collaborative planning, forecasting, and replenishment (CPFR).
The Impact of SCM Today
Today, supply chain management is a critical component of many businesses' operations. Companies that are able to effectively manage their supply chains can reduce costs, improve efficiency, and gain a competitive advantage in the marketplace. As a result, many businesses are investing heavily in new technologies and processes to improve their SCM capabilities, and the field continues to evolve and grow.
Community Answer
The supply chain management philosophy emerged in which decade?(A) 196...
1980s
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The supply chain management philosophy emerged in which decade?(A) 1960s(B) 1970s(C) 1980s(D) 1990s?
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The supply chain management philosophy emerged in which decade?(A) 1960s(B) 1970s(C) 1980s(D) 1990s? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about The supply chain management philosophy emerged in which decade?(A) 1960s(B) 1970s(C) 1980s(D) 1990s? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The supply chain management philosophy emerged in which decade?(A) 1960s(B) 1970s(C) 1980s(D) 1990s?.
The supply chain management philosophy emerged in which decade?(A) 1960s(B) 1970s(C) 1980s(D) 1990s? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about The supply chain management philosophy emerged in which decade?(A) 1960s(B) 1970s(C) 1980s(D) 1990s? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The supply chain management philosophy emerged in which decade?(A) 1960s(B) 1970s(C) 1980s(D) 1990s?.
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