supply-chain-expansion

Vocabulary Word

Definition

Think of 'supply chain expansion' as widening a river. It's when a company enlarges its operation of producing and distributing goods, or its supply chain. It could include more suppliers, production units, or customers.

Examples in Different Contexts

In the technology sector, supply chain expansion can mean scaling up production capabilities or adding new distribution channels. A technology company CEO could comment, 'Supply chain expansion is crucial for meeting the growing demand for our products.'

Practice Scenarios

Tech

Scenario:

The increasing demand for our product has put strain on our current supply chain. New technologies could boost our efficiency.

Response:

I agree. We could consider AI-based predictive supply chain expansion to meet the increased demand efficiently.

Startup

Scenario:

Our product is gaining popularity. We need to look at the possibilities of reaching broader markets.

Response:

Indeed. A supply chain expansion to new markets in Europe or Asia could be a game-changer for us.