Asked by
Ashish yadav
on Oct 31, 2024
Verified
When using the low-cost strategy for supply chain-management, the firm should invest aggressively to reduce production lead time.
Low-Cost Strategy
A competitive strategy focusing on becoming the lowest cost producer in an industry to offer products or services at the lowest price possible to consumers.
Production Lead Time
The total time required to manufacture an item, including order preparation, queue, setup, run, inspection, and put-away time.
- Acknowledge the essentiality of inventory oversight and its effect on the cost strategy of a business through supply chain interactions.
Verified Answer
KD
Learning Objectives
- Acknowledge the essentiality of inventory oversight and its effect on the cost strategy of a business through supply chain interactions.
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