SUPPLY CHAIN MIDTERM REVIEWER

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What are the companies that provide raw materials to be used by firms? Examples include farmers, meat, poultry, and dairy suppliers, furniture makers, and linen providers. They may also convert these raw materials into work-in-progress inventories so that firms can easily convert them into finished goods ready for sale.

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Suppliers

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are businesses that store and convert raw materials and work-in-progress inventories into finished goods ready for sale. They are responsible for using strategies involving establishing prices, product and service offerings, and comfort to attract customers. In the hospitality industry, these are accommodation and food and beverage establishments

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Firms

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refer to the agents that act as intermediaries between customers and firms. These include tour operators or travel agents who usually buy services from hotels and restaurants and assemble them into tour packages offered and sold to tourists.

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Third-party agencies

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refer to the individuals or organizations that purchase and use a firm's product or service. In the hospitality industry, they are the guests or tourists.

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Customers

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is essential for firms to determine areas for product and service improvement. Any adjustments on products and services to address customer needs may also necessitate re-evaluating arrangements with existing suppliers. It is paramount that information flows both ways so that the expectations for each participant in the supply chain are relayed correctly.

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Feedback

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What are the tools that ensure the advanced performance of the supply chain management effectively and efficiently to achieve a favorable customer response? Options: Suppliers, Supply Participants, Feedback, Supply Chain Drivers

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Supply Chain Drivers

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refers to the accumulated planning, control, and implementation of the effective movement, storage, and facilitation of goods and services from one dimension to another.

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Logistics

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the destination where accommodation and food and beverage businesses are located, the cultures of the area, and national policies and regulations are carefully considered.

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Facilities

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types of inventories

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cycle, safety, and seasonal

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the movement of goods and services from the supplier to the hospitality business, such as the delivery of food products and hotel supplies

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Upstream