List the Four Elements of Supply Chain Management and Provide

question 44

Essay

List the four elements of supply chain management and provide a short description of each of the four elements.What types of failures might each of those elements create within the supply chain? Why might those results be linked to errors in a particular element?

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Prepayments

Payments made in advance for goods or services, which are recorded as assets on the balance sheet until the corresponding goods or services are received.

Unearned Revenue

Money received by an entity for a service or product yet to be delivered or performed.

Adjusting Entry

A journal entry made in accounting records to update the balances of accounts at the end of an accounting period before financial statements are prepared.