Company Supply Chain - Century 21IntroductionSupply Chain is defined as the network of retailers, distributors, transporters, storage facilities and suppliers that participate in the sale, delivery and production of a particular product or service (Investorwords.com, 2009). This definition can relate to the real estate industry in which I will be discussing, even though real estate companies do not deal with raw materials. The products real estate agents are homes and estates, business construction and commercial properties. These real estate agents work between the seller of the property and the interested buyer. In the next couple paragraphs I will describe the supply chain for real estate companies, such as Century 21, and incorporate information from my readings. Furthermore, I will address the need for supply chain management in my selected organization and describe the elements of the supply chain.
Elements of Supply ChainThe supply chain involves several important factors and these include the location, production, inventory, and transportation.
For any type of business or organization, the supply chain usually begins with raw materials and ends with the sale of the finished product or services. However, since Century 21 is a service rather than a product, it deals with a series of steps involved in the services they provide. Moreover, these steps can include other businesses to provide different types of services, which assist in completing a real estate transaction. There are many different types of companies that take part in these real estate transactions and to name a few: appraisal companies, advertising agencies, title companies, financial institutions, and inspection companies.
Supply Chain of Real Estate TransactionThe supply chain for a real estate transaction at Century 21 generally begins with advertising agencies and these agencies could be newspapers, internet advertising, mail, and other forms of advertising to reel customers into the real...