Readers,
With consumers becoming more and more needy, and with the whole idea of “On-Demand” services, Supply Chains are becoming more and more important. Back when there was only one general store in your small town a supply chain was not as important, as even though that store might not have the product you are looking for, there are no other companies to choose to buy from. But in the modern world, there are almost an infinite amount of substitutes. Thus, a store must be sure to have as much product on hand as to ensure that customers are not turned to other businesses. This means a company must be sure to have a constant and direct link to the suppliers and manufacturers of all the products it sells. If a seller misses a shipment due to poor communication, they risk losing many would be customers to their close competitors, and if those competitors deliver the service well, then those customers could be lost forever. If this trend continues then the company is in jeopardy of losing vast amounts of money, which could lead to possible bankruptcy. This is just one example of how the supply chain is one of the most important things to consider while investigating the world of retail.
Cheers,
Martin M