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What are the some support activities in primary functions of Supply Chain Management?
To support primary functions of Supply Chain Management there will be a company’s infrastructure which performs a number of support activities. Such activities are as illustrated:
a. Procurement: Responsible for negotiating quality supplies at an acceptable price along with reliable delivery.
b. Technology Development: To make sure that organization’s products keep competitive this requirements to update its production process, train staff and to manage innovation.
c. Human Resource Management: The recruitment, personnel management and training.
d. Firm Infrastructure: The whole management including planning and accountancy.
When investing money, an important concept to know is compound interest. The equation FV = PV (1+rate)periods . This relates the following four quantities. The present value (PV)
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