Importance of Supply Markets
Supply markets are important in the following ways:
- Boost customer service because customers expect products to be available at the right location.
- Improve the financial position of suppliers because they bring goods nearer to their customers who find it convenient and cost effective.
- Improve the quality of life since basic necessities such as food and water are easily accessible.
- Improve the standard of living because consumers can afford to buy more products with their income.
- Create jobs within their operations, which can cover transportation, warehousing, inventory management, packaging and logistics.
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