Differentiate supply chain management from other similar concepts, such as logistics management or supply management. Then, using an organization that you know well (for example, a company you work for or one that you buy products from), create a diagram identifying the supply chain. Your diagram should include at least twelve steps. Identify and discuss three critical success factors of your supply chain (the things that make it effective and efficient).
How can supply chain management benefit society? Use the diagram you created to illustrate and support your response.
Answer preview
The third success factor is the flow of information that supports the decision-making process. It is notable that the use of information technology to help the managers monitor and oversee the whole supply chain in a key success factor that determines the effectiveness of the entire chain. The information technology allows the managers to monitor the entire process and to identify then anything changes in the system so they can make adjustments to avoid any inconvenience that may arise from the changes. The practice often involves many moving parts, and there is a need to monitor and sustain it effectively.
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