Which term describes the process of tracking and managing an organization's goods as they move from supplier to customer?

Which term describes the process of tracking and managing an organization's goods as they move from supplier to customer?

• A. Inventory turnover
• B. Supply chain visibility
• C. Demand forecasting
• D. Logistics optimization

Answer: (B)

The term that describes the process of tracking and managing an organization's goods as they move from supplier to customer is supply chain visibility. This concept refers to the ability to view and manage the flow of goods, information, and finances throughout the supply chain. It encompasses not only the tracking of the products as they are transported but also the ability to monitor supply chain processes, detect bottlenecks, and ensure transparency among all parties involved—from suppliers to manufacturers and ultimately to the end customers. Supply chain visibility is essential for effective decision-making and helps organizations respond quickly to changes in demand or supply conditions. It allows organizations to optimize their operations and improve customer satisfaction by ensuring that the right products are delivered at the right time and location. In contrast, inventory turnover measures how quickly inventory is sold and replaced over a specific period, which is more about the management of stock rather than the overarching flow of goods. Demand forecasting involves predicting future customer demand to align production and inventory levels accordingly, while logistics optimization refers to improving the efficiency of the transportation and storage of goods but does not necessarily include the broader view of visibility across the entire supply chain.

The term that describes the process of tracking and managing an organization's goods as they move from supplier to customer is supply chain visibility. This concept refers to the ability to view and manage the flow of goods, information, and finances throughout the supply chain. It encompasses not only the tracking of the products as they are transported but also the ability to monitor supply chain processes, detect bottlenecks, and ensure transparency among all parties involved—from suppliers to manufacturers and ultimately to the end customers.

Supply chain visibility is essential for effective decision-making and helps organizations respond quickly to changes in demand or supply conditions. It allows organizations to optimize their operations and improve customer satisfaction by ensuring that the right products are delivered at the right time and location.

In contrast, inventory turnover measures how quickly inventory is sold and replaced over a specific period, which is more about the management of stock rather than the overarching flow of goods. Demand forecasting involves predicting future customer demand to align production and inventory levels accordingly, while logistics optimization refers to improving the efficiency of the transportation and storage of goods but does not necessarily include the broader view of visibility across the entire supply chain.