In the economy there is demand (demand) and supply (supply) that meet each other and form a meeting point in units of price and quantity (quantity of goods). Every trading transaction must have demand, supply, price, and quantity that affect each other. Read more regarding certified supply chain service in Malaysia.
Definition of Demand and Supply
Then, demand is a number of goods purchased or requested at a certain price and time, while supply is a number of goods sold or offered at a certain price and time.
Buyers and Sellers Relationship
In other words, those who act as demand are buyers while sellers act as supply. When a transaction occurs between a buyer and a seller, both will agree so that a transaction occurs at a certain price as a result of the bargaining process.
Factors Influencing Supply
1. There are Available Resources
Offers can occur, if the availability of goods is sufficient. If the goods or services offered are limited, or scarce, this has the potential to cause price increases. Scarcity of goods or services directly affects the elasticity of supply. So supply is highly dependent on the availability of available resources.
2. Seller Or Producer Factor
The number of producers who produce an item is directly proportional to the availability of goods. So, the producer or seller has a belief to make an offer, because the availability of goods supports the bidding process. In fact, if goods are not offered, they will accumulate and economic turnover does not occur.
3. Price
Price is the first supporting factor in an offer. Then, if there is no price, the seller or producer will be confused about making an offer. Likewise for prospective buyers, prospective buyers will experience confusion, when they have a need, but do not know the price of the goods to be purchased. The higher the price of an item or service, the producer or company will offer more goods, and vice versa.
Certified Supply Chain Service in Malaysia
In Malaysia, supply chain and demand is quite important therefore demand is established.
In adamant, from being perceived as a supporting business to other organizational functions in the past, logistics is today seen as a stand-alone strategic industry. The potential for growth in the Asia Pacific area is quite significant. Despite the industry’s spectacular growth, there has been relatively little published research in the field of logistics and supply chain, resulting in a very restricted diffusion of knowledge for the purposes of coordination, learning, progress, and so on. As a result, the goal of this article is to look at the concerns and challenges that practitioners and other stakeholders in the business confront.
Research Regarding Certified Supply Chain Service in Malaysia
In a certain way, there is some research regarding supply chains. You could read it here. This study discovered some of the issues, mainly four key issues and problems, namely operational logistics, service response logistics, sharing of information, and policy-related issues, after reviewing the logistics supply chain management literature in Malaysia and conducting informal interviews with five organizations from various sectors.
Malaysia’s logistics effectiveness has been hampered by these difficulties. This study aims to address a number of concerns that surround this complicated and fragmented sector. As a result, future academics will be able to investigate any area of logistics and supply chain management that exists in Malaysia.
