Posted: January 3rd, 2023
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4.1 Learning Outcomes:
Explain the concept of value and its implications for managing the supply chain.
Explain how logistic costs can be managed for better value creation.
4.2 Action Required:
The following table shows various costs incurred by a manufacturing company:
Cost of shipping finished goods to customers
Wood used in manufacturing furniture
Electricity used in manufacturing furniture
Packing supplies for shipping products
Sand used in manufacturing concrete
Executive’s life insurance
4.3 Test your Knowledge (Question):
Answer with a tick mark or write in words which is a fixed cost, and which one is a variable cost. Answer:
5.2 Action Required:
Watch the short video at the following link:http://www.youtube.com/watch?v=ARoGZIN5oC4ow
5.3 Test your Knowledge (Question):
Define the components of a successful business plan?
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