Inventory and Supply Chains (AQA A-Level Business): Flashcards

Stock a business holds (raw materials, WIP, finished goods)

Journey of getting product/service from materials to customer

How well a business can adapt to customer needs

Producing tailored goods meeting individual requirements

How quickly a business can fulfil a customer's order

Whether a business fulfils orders on time (punctuality)

1. Punctuality (on time) 2) Reliability/durability

Lost sales, damaged reputation, lost future business

Holding costs, tied-up capital, waste risk, lower profit

Higher customer satisfaction & competitive advantage