Supply Chain ManagementAnswer each of the 9 questions as a short discussion. If you use a reference, cite each.1. Of the three macroprocesses in a firm, one process is the most important. Comment on the previous statement or comment if you think otherwise.2. What is the purpose of benchmarking and how can benchmarking be used to improve supply chain performance? Give at least one industry example to illustrate your point.3. Why is it important to ensure that incentives are aligned in a supply chain?4. Briefly describe the implications of poor forecasting on a supply chain. In other words, what are some of the bad things that can happen as a result of inaccurate demand forecasts?5. Why is collaboration important in supply chain planning? Give at least one industry example where an organization has been practicing CPFR along with the benefits gained and challenges faced.6. Select and briefly describe one managerial lever (or strategy) for reducing lot size and cycle inventory in the supply chain, without increasing costs.7. Briefly describe at least one example of how a public or private enterprise can use the postponement of product differentiation to increase profits.8. Supply chain-related electronic auctions have been increasing in sophistication and popularity over the years. Using the Internet, briefly describe at least one firm that offers electronic supply chain-related auctions and summarize the services they offer. (Include the website)9. Describe some of the challenges in the integration of forward and reverse supply chains.Supply Chain ManagementQuestion 1Of the three macroprocessors in a firm, Customer Relationship Management seems to bethe most important. This is because the customer is always considered as the…
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