Supply chain management can provide a competitive advantage in a global marketplace through several ways. Firstly, by improving the distribution network, organizations can ensure that all parts of the supply chain work in sync, leading to increased efficiency. Secondly, monitoring cash flows and controlling payment terms with various groups within the supply chain can improve supplier management. Thirdly, establishing proper information channels ensures that data is distributed promptly and accurately to relevant recipients. Lastly, tracking inventory using software or internal spreadsheets can help monitor the whereabouts of the inventory, providing information on product quantity and any potential issues such as damage, decay, or theft.
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