Question
Vhich one of the following macro processes involves supply chain parties in the upstream? 1. Customer Relationship Management 2. Supplier Chain Consolidation 3. A closed-loop Supply Chain 4. Supplier Relationship Management (SRM) Customer Relationship Management Supplier Chain Consolidation A closed-loop Supply Chain Supplier Relationship Management (SRM)
Answer
4.2
(215 Votes)
Emerson
Master · Tutor for 5 years
Answer
Supplier Relationship Management (SRM) is the correct answer.
Explanation
## Step 1: In this question, we are tasked to identify the macro process in supply chain management that involves players in the upstream segment of the supply chain. To do this, we must understand what each option encompasses.## Step 2:Customer Relationship Management (CRM) as the name implies is related to managing relationships with customers which are typically downstream players in a supply chain, hence this is not likely our answer.## Step 3: Supplier Chain Consolidation tends to involve streamlining of the supply chain and doesn't explicitly suggest upstream player involvement, hence can be moved aside.## Step 4:A closed-loop supply chain refers to a supply chain system that includes the process of using, returning, recycling, and disposing of goods. This is a larger overall process without specific upstream emphasis.## Step 5: That brings us to Supplier Relationship Management (SRM), which focuses on interactions with all the prime partners in the business - the suppliers. Suppliers are invariably situated upstream in any supply chain