Supply Chain - Business concept of the day
Entrepreneurship
7 Aug 2018, 15:39 — 1 min read
Definition: A supply chain is a network between a company and its suppliers to produce and distribute a specific product, and the supply chain represents the steps it takes to get the product or service to the customer.
Example: The ice cream producer had to change it’s entire supply chain when it made a decision to only produce only organic ice cream.
Business Insight: A regimented system for supply of raw materials and payments in return is necessary for firms to do business sustainably when they have a large supply chain.
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