There are five basic supply chain activities a company undertakes to manufacture and distribute products. Which of the following occurs when you build relationships with suppliers to procure raw materials

Inbound logistics

Explanation:

Inbound logistics as explained by Porter's value chain analysis entails receiving, storage, management of inventories and other activities relating to the suppliers. It is commonly practiced by manufacturing industries

It also cover procurement which is the sourcing of raw material and negotiation of best prices and optimizing the movement up to the store and eventually the manufacturing plant.

The better it is managed, the more profitable the process.

Sourcing

Explanation:

Supply chain management has to with the how flow of goods and services are managed including all the activities involved in the conversion of raw materials to finished goods.

The five basic supply chain activities a company undertake are: planning which has to do with making decision on operation strategy; sourcing which has to do with obtaining raw materials from the source; making which relates to manufacturing of products with a focus on productivity and efficiency; delivery and logistics which are the activities that make goods available to the customers; and the return system which takes care of defective products returned by the customer.

From all the five basic supply chain activities, sourcing is therefore occurs when a company establishes relationships with suppliers to procure raw materials. Under sourcing, the purchase of raw materials and parts are organised, sources of the raw materials are selected and scrutinized before contracts are negotiated and deliveries are scheduled.

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