27 Mar Small businesses often face significant challenges when adopting supply chain management systems, including financial investments, employee training, an
Small businesses often face significant challenges when adopting supply chain management systems, including financial investments, employee training, and process changes. However, the long-term management and economic benefits, such as improved supplier communication, reduced inventory costs, and error reduction, make these systems appealing.
Given this context, discuss the following:
- What do you think are the most critical benefits of implementing a supply chain management system for a small business, and why?
- On the other hand, what risks do small businesses face when adopting such systems, particularly related to supplier power or switching costs, as identified by Michael Porter's five forces model?
Use examples to support your points and consider both the technical and managerial risks associated with supply chain management implementation.
DUE: APRIL 1
NO AI
SOURCES ONLY:
https://www.youtube.com/watch?v=Mi1QBxVjZAw
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