Describe the importance of operations and supply chain management to a company’s strategy.

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Operations and supply chain management are essential components of any company’s strategy because they provide the framework which allows businesses to efficiently produce/distribute goods/services to their customers. This starts with understanding what resources are needed in order to create a product – including raw materials, labor, technology, etc. – and then figuring out how best to acquire these elements at the lowest cost possible so that profitability can be maximized.

Once basic operations have been established, it’s important to consider how goods will reach end users; this involves both setting up a reliable supply chain as well as devising ways of managing inventory levels in order to ensure that products don’t become overstocked or run out too quickly. When formulating an overall business strategy, all of these elements must be considered. They have a major impact on marketing and pricing decisions as well as other aspects of the company performance.

Overall, operations and supply chain management play an integral role for companies seeking success because they serve as the backbone upon which most decisions are based; by taking all relevant factors into consideration when planning – organizations can better position themselves for long-term growth while also reducing costs associated with production/distribution.