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In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. [6] Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. [7]
In commerce, global supply-chain management is defined as the distribution of goods and services throughout a trans-national companies' global network to maximize profit and minimize waste. [1] Essentially, global supply chain-management is the same as supply-chain management, but it focuses on companies and organizations that are trans-national.
A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product. A supply chain encompasses everything from the delivery of source materials from the supplier to the manufacturer through to its eventual delivery to the end user.
Typically, supply-chain managers aim to maximize the profitable operation of their manufacturing and distribution supply chain. This could include measures like maximizing gross margin return on inventory invested (balancing the cost of inventory at all points in the supply chain with availability to the customer), minimizing total operating expenses (transportation, inventory and ...
Supply chain engineering is the engineering discipline that concerns the planning, design, and operation of supply chains. [1] [2] Some of its main areas include logistics, production, and pricing. [2] [3] It involves various areas in mathematical modelling such as operations research, machine learning, and optimization, which are usually ...
The following article lists different countries and territories by their exports according to data from the World Bank. Included are merchandise exports and service exports. Merchandise exports are goods that are produced in one country and sold to another country. Service exports refer to the cross-border sale or supply of services by ...
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GVC is similar to the concept of a supply chain, but the latter focuses on conveyance of materials and products between locations, often including change of ownership of those materials and products. [2] The existence of a global value chain (i.e. where different stages in the production and consumption of materials and products of value take ...