A firm that is not on the cost-responsiveness efficient frontier can improve

Q: Which of the following defines the set of customer needs that a company seeks to satisfy?

A companys competitive strategy defines the set of customer needs that it seeks to satisfy through its products and services. The value chain emphasizes the close relationship between all the functional strategies within a company.

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What is cost responsiveness efficient frontier?
What is implied demand uncertainty on a supply chain?
Which of the following defines the set of customer needs that a company seeks to satisfy?
What must a company accomplish to achieve strategic fit?

The cost responsiveness frontier is a graph, or visual representation, of the trade-off between efficiency and responsiveness. The graph shows cost on the x-axis and responsiveness on the y-axis. The graphical curve, which is called the efficient frontier, represents the cost and response time for different strategies. For a given level of responsiveness, the frontier shows the minimum cost.

When a business operates within the frontier, it can decrease its costs by taking appropriate actions while making no change in its responsiveness. The frontier curve changes over time as companies strive to improve supply chain efficiency by reducing costs and increasing responsiveness.

What is cost responsiveness efficient frontier?

What is implied demand uncertainty on a supply chain?

Implied demand uncertainty is demand uncertainty due to the portion of demand that the supply chain is targeting, not the entire demand. A high-end department store chain such as Nordstrom falls on the high end of the implied demand uncertainty scale.

Which of the following defines the set of customer needs that a company seeks to satisfy?

A company's competitive strategy defines the set of customer needs that it seeks to satisfy through its products and services. The value chain emphasizes the close relationship between all the functional strategies within a company.

What must a company accomplish to achieve strategic fit?

Strategic Fit may be defined as matching resources and capabilities but in Procurement it means requiring that both the competitive and supply chain strategies of a company have aligned goals. To provide the highest level of service as a procurement organization, strategic fit must be achieved.