PLS HURRY!! 50 Points! Describe the global supply chain as it relates to optimum procurement practices. Your answer must be at least 150 words.

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Most OEMs no longer compete solely as autonomous corporations. They also compete as participants in integrated supply chains. This revolution, which is changing the ways products are designed, produced, and delivered, has the potential to alter the manufacturing landscape as dramatically as the industrial revolution or the advent of mass production. This chapter describes the changing nature of supply chains and efforts to optimize their performance.

In the past, OEMs typically drove down the cost of purchased materials through aggressive negotiations, imposing terms and conditions that minimized supplier profitability and often left suppliers in a weakened condition. More recently, OEMs have begun to adopt a strategic partnership approach, which recognizes that increased, sustainable benefits can accrue from long-term relationships between participants in the supply chain (a win-win situation). This approach considers total life-cycle costs over multiple iterations of a product, with the goal of increasing mutual benefits for all participants in the long run.

Explanation:

answer; i believe that the correct answer is (supply chain);

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it