In: Accounting
Answer the following parts for question 1:
a) Do all businesses have a supply chain yes/no
b) Are all parts of the supply chain for a business within that same business yes/no
c) Does a business have full control over all aspects of its supply chain yes/no
d) What role can an Accounting information system play in enhancing the supply chain. (two sentences)
e) What does supply chain management involve and why is it important to manage the supply chain effectively (two sentences)
Ans:A) Yes mostly all the business have its supply chain which involves coordinating with both the vendors and customer for smooth functioning its operations.
Ans: B) No some part of supply chain may involve outside parties also like delivering of goods to end customer may involve a third party so their involvement will be out of that same business..
Ans C) No they might have effective control but not full control as it involves external parties also which might be outside the discretion of the company management. Thus businesses mightn't have a supply chain.
Ans D) Accounting system helps in selecting the current chain by analysing the cost and benefit and data from past. Thus help management in selecting the cost effective chain and ensuring best delivery of service and achievement of the organisational objective.
AnsE ) The supply chain management involve the movement and effective,utilisation,storage and delivery of goods and services. It is important as it helps to effectively use the resources and save cost ensuring maximum satisfaction of the end consumer.