Establishing proper information channels in supply chain management is crucial for several reasons. Firstly, it ensures that data is distributed promptly and accurately to the relevant recipients. This can help in making informed decisions and in coordinating activities across the supply chain. Secondly, it can improve supplier management by monitoring payment terms and conditions with various groups within the supply chain. Lastly, it can help in tracking inventory, understanding the technology used for monetary transfers, and coming up with an efficient plan.
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