Grand Trunk Inc., a furniture manufacturing company, does not manufacture furniture until an order is received. It coordinates and integrates the activities of its suppliers, designers, and carpenters to ensure an efficient production cycle. This enables Grand Trunk Inc. to deliver the products to customers within five working days. This is an example of _____.

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This scenario describes supply chain management, which involves coordinating various activities and stakeholders in the production, delivery, and management of goods and services. Grand Trunk Inc. is managing its suppliers, designers, and carpenters to ensure a streamlined production cycle that can meet customer demands quickly. Yield management relates to maximizing revenue from limited resources, returns management involves handling product returns and customer complaints, and asset lifecycle management focuses on optimizing the use and maintenance of physical assets over their lifespan.