A supply chain strategy is a plan with goals and objectives. It is about using all of the elements involved in the sourcing and procurement of goods and services to produce better results for the company. Typically, strategy is aimed at achieving objectives such as pushing a new product development faster, improving the use of current technologies, bringing products and services to market faster, minimizing resource investment, and reducing specific costs and response/cycle times. Supply chain strategy is often confused with supply chain management, even though it is a lot broader, which explains why many people traditionally call it “supply strategy”, “operations strategy”, and “logistics strategy”. It defines what processes within the firm should do well, as well as what the role played by each supply chain entity is. It also supports the firm’s competitive strategy by focusing on driving down operational costs and maximizing efficiencies. It establishes the way a......

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Title: Supply Chain Strategy
Approximate Word Count: 1201
Approximate Pages: 5 (250 words per double-spaced page)

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