Smart Business Diagram
All businesses either related to manufacturing or services face various challenges. Customers/consumers have elevated the level of expectations in terms of prices and quality. The Smart Business (SB) Approach is one of the ways for business sustainability. The model below gives the basic idea of SB.
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The basic model talks about four fundamental management pillars, Supply Management, Process Management, Human Resource Management and Cost Management. Each pillar has further details and all pillars are managed and driven through digitalization leading to Smart Business. Apart from food safety and quality, financial viability and performance are equally important for business and market share sustainability.
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