Question

The supply chain is obviously impacted by the global business environment. It has provided many opportunities but it has also brought increased challenges.

a) Identify and briefly describe two of the opportunities and two of the challenges other than increased energy consumption.

Answer 1

Opportunities -

1) Growth potential is very huge in coming years and business of supply chain increaseing day by day and generating maximum profits.

2) Untapped market are large and always attracting the global supply chain companies to expand their business operations.

Challenges -

1 ) A primary challenges in the supply chain industry is each company in the chain likely to have conflicting business objectives and requirements for example a supplier of raw materials would prefer a manufacturing company to purchase large amount of raw products on a regular basis and supplier will also want the best possible price for it raw products.

2) Uncertainty of every supply chain and this must always be planned for but can never be predicted. Uncertainty in supply chain business is always possible and can not be controlled.