Gonzales Company has developed an integrated system that coordinates the flow of all goods, services, and information into and out of the organization, working with raw material vendors as well as customers to improve service and reduce costs. The firm is said to be using: a. supply chain management. b. management by objectives (MBO). c. top-down management. d. participative management. e. strategic cost management.

A

Supply chain management

Explanation:

Supply chain management is the deliberate control of the movement of goods and services in order to maximize product value, sustain competitive advantage and also reduce cost of production.

Effective supply chain systems help manufacturers reduce excessive inventory holding and this helps in reducing production cost. The main goal of a supply chain management is to better coordinate the inflow and outflow of raw materials, services or information in a firm.

An integrated system that coordinates the flow of all goods, services, and information into and out of the organization, working with raw material vendors as well as customers to improve service and reduce costs developed by Gonzales Company is option A)Supply Chain Management

Explanation:

Supply chain management (SCM) is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. It represents a conscious effort by the supply chain firms to develop and run supply chains in the most effective & efficient ways possible

Supply chain management enables enterprises to source the materials necessary to create a product or service and deliver that product or service to customers.

There are supply chain management software that functions as an integrated system to help make supply chain activities efficient and cost effective.

SCM software is to improve supply chain performance. Timely and accurate supply chain information allows manufacturers to make and ship only as much product as can be sold.

Effective supply chain systems help both manufacturers and retailers reduce excess inventory. This decreases the cost of producing, shipping, insuring, and storing product that cannot be sold.

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