This assignment will help you develop an understanding about the life cycle of supply chains including the models that are aligned with it and the cost it bears. In addition, you will develop an awareness of the elements of the supply chain that should be monitored to ensure the desired results are being obtained.
Scenario:
You have been asked to be a guest speaker in a high school business class. Your task is to explain the basic concepts of supply chain management to a group of students. The students will take a quiz on supply chain management based on the information in your presentation.
Instructions:
Develop a creative, engaging, educational handout that students can use to prepare for the quiz. Your handout should accomplish the following tasks.
1. Diagram and explain the life cycle of a supply chain.
2. Explain, and provide examples of, the models organizations use to manage forecasting, planning, and inventory.
3. Examine, and provide examples of, the costs absorbed by organizations with respect to inventory and logistics.
4. Describe how organizations use various parameters to monitor supply chain performance and provide examples.