Supply shocks can be positive or negative, causing a shift in demand and prices. Positive shocks can result from increased supply, while negative shocks can result from decreased supply due to natural disasters, accidents, or geopolitical events. Businesses can prepare for supply shocks by purchasing insurance or staying alert for early warning signs. A supply […]
Supply chain inventory management tracks a product’s life cycle from raw materials to customer purchase to improve efficiency. It manages sales, manufacturing, warehousing, and shipping, reduces inventory costs, and optimizes transportation. Manufacturers, distributors, and end sellers can benefit from anticipating demand. Supply chain inventory management is a system of tracking the life cycle of a […]
Aggregate supply and demand are the total supply and demand for goods and services in an economy, affecting prices. Macroeconomics studies these factors and government policies affecting them, represented by curves on a graph, with an equilibrium point. Monetary policy and government regulations impact the economy. Aggregate supply and aggregate demand is the total supply […]
Supply chain internships offer hands-on experience in designing distribution strategies, inventory ordering systems, and supply logistics support. Undergraduates focus on procurement and distribution, while graduate-level internships deal with finding solutions to general problems and making recommendations for improvement. Major companies offer paid internships during the regular school year and summer break. Supply chain internships are […]
The money supply is the total amount of deposits in financial institutions, and is a key measure of economic health. The US Federal Reserve controls the money supply through interest rates, bond purchases and reserve requirements to strike a balance between sustained growth and inflation. The money supply represents the totality of deposits in financial […]
Effective supply chain event management is similar to supply chain management, but focuses on specific events. It involves assessing and preparing for process disruptions, developing alternative action plans, and using technology to manage the entire supply chain as one process. Timing rules and backup systems are crucial for success. Effective supply chain event management is […]
The law of supply and demand is an economic theory that explains how the availability and desire for a product affects its price in the market. It is made up of two separate laws, the law of supply and the law of demand, which work together to set prices in a market economy. The law […]
Aggregate supply refers to the total supply of goods and services that firms in a national economy will sell at a specific price level and on time. There are two types of aggregate supply curves, short-run and long-run, which are affected by input costs and economic growth. The long-run curve is a vertical line, while […]
Food service workers have varied tasks and requirements depending on their employer and location. Certification may be necessary, and additional education may be required for those working in institutions. Tasks include serving food and drinks, cleaning work stations, managing food storage, and following health and nutrition guidelines. Proper sanitation and handling of food is essential […]
Feed functionaries manage the inventory of essential supplies for businesses, working with departmental supervisors and purchasing agents to maintain accurate records and reorder items as needed. They use manual or computer systems to track inventory and conduct periodic physical counts to reconcile discrepancies. The feed functionaries are individuals responsible for managing the feed areas of […]
Effective supply chains focus on cost reduction while maintaining quality and service. Market intelligence and technology can increase efficiency, while a quality management system (QMS) can help align business goals with supply chain performance. QMSs map out processes to reduce errors and improve efficiency through continuous improvement. The supply chain is responsible for two things: […]
