Describe the concept of supply chain management, Supply Chain Management

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Question 1:

(a) Describe the concept of supply chain management.

(b) Show the evolution of supply chain management over the past years, indicating how it has contributed to the success of many organisations.

Question 2:

(a) Show important ways of reducing inventories.

(b) Manufacturing firms usually have several Inventory-Driven Costs. Explain three of these costs.

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