Explain How Today's Consumers Are Empowered and How They Impact

question 14

Essay

Explain how today's consumers are empowered and how they impact Supply Chain Management.

Recognize the role of tangibles in evaluating service quality.

Identify strategies to reduce delivery gaps including technology use and employee empowerment.

Assess the importance of employee empowerment in improving service quality.

Understand the significance of reliability and assurance in service settings.

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Definitions:

Delta

In finance, it's a ratio that compares the change in the price of an asset, usually a marketable security, to the corresponding change in the price of its derivative.

Underlying Asset

The financial asset upon which a derivative's price, such as an option or future, is based.

Net Requirements

The total demand for a product or component minus the inventory already on hand or on order, used in manufacturing and inventory management.

Gross Requirements

The total amount of materials or components needed to fulfill production or sales orders, before considering inventory on hand or scheduled receipts.