Question 4: Define supply and demand chain? This is an example of “continuous in
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Question 4: Define supply and demand chain? This is an example of “continuous innovation” as mentioned in the Grateful Dead article.How can these processes be used as a competitive advantage for a business and why is this area of such interest today?
Please use your own words and don’t plagiarize. Cite your source Question 4: Define supply and demand chain? This is an example of “continuous innovation” as mentioned in the Grateful Dead article.
How can these processes be used as a competitive advantage for a business and why is this area of such interest today?
Please use your own words and don’t plagiarize. Cite your source Question 4: Define supply and demand chain? This is an example of “continuous innovation” as mentioned in the Grateful Dead article.
How can these processes be used as a competitive advantage for a business and why is this area of such interest today?
Please use your own words and don’t plagiarize. Cite your source
Explanation / Answer
Demand - Means a particular good or service which a particular person is seeking in order to satisfy his need.In today's dynamic world the need s changing constantly and so is the need to develop the goods or services to be delivered accordingly. Due to change in tasteand preferences there should be availability of variety of goods as per the need.
Supply - Means constantly providing the desired goods and services as per the needs and requirements of the customers to keep hold on the customers in the market.
Therefore, in this competitive environment where the need is changing overnight, It is required to keep innovating regulary and provide the best good which can allure customer towards itself.
The one who keeps on updating their products can only survive in the market. For eg. Nokia couldn't able to update timely in the mobile market and atlast had to vanish.
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