...(a) Define a supply chain and identify each of its components. Answer: Supply chain: It is a network of organization and business processes. The processes include buying materials, making products, and distributing the products to customers. Components Suppliers: There are three tiers suppliers, and all suppliers are located in upstream of whole supply chains. Suppliers supply materials or intermediates to manufacturing plants. Manufacturing plants: Manufacturing plants finish the products. They transport products to distribution centers. Distributors: Different distributors manage products’ market in different areas. Distributors should deliver products to retailers. Retailers: Retailer is the components who face customers directly. They sell products to customers. Customers: People buy products. Something important: the supply chain is in both directions. (b) What are the challenges faced by firms which are planning for global supply chain systems? 1, Geographic distance and time differences will bring big challenges. 2, There are different countries in the same supply chain. Therefore, different language, custom, and law will bring some challenges. 3,Although the purchase price of many goods might be lower abroad, there are often additional cost for transportation, inventory, and local taxes or fees. (a) Distinguish between operational and analytical CRM. Analytical CRM includes applications that analyze customer data generated by operational CRM...
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