Discussion—Key Elements of a Supply Chain

Assignment 1: Discussion—Key Elements of a Supply ChainThe success of any supply chain depends on the framework of the organization. The framework of an organization identifies strategic challenges that were critical to the organization’s existence in the past and are also critical to its future growth. In this assignment, you will examine the ways in which selection of a framework can affect the success or failure of the supply chain program.Most organizations use a single framework or a combination of frameworks to develop supply chains.Then respond to the following:What is a supply chain? What are some potential benefits of managing the supply chain?What are the key factors that help an organization decide what type of framework they should use to develop the supply chain?What would be the impact on the development process if an incorrect framework is used? Discuss your reasoning by providing examples.Describe the three types of value (supply) chain frameworks and explain which one you think is the best. If possible provide a visual illustration or representation. Why do think your chosen framework is best? Justify your explanation.Write your initial response in 200 to 300 words. Apply APA standards to citation of sources.