Through improved financial strategies and data management, the supply chain of a company can improve their customer experience, business efficiencies and overall financial performance. By collecting d

Through improved financial strategies and data management, the supply chain of a company can improve their customer experience, business efficiencies and overall financial performance. By collecting data, improving customer intimacy, establishing financial strategies, and through the use of analytics, organizations can embark on new opportunities and stronger financial futures. Complete the following:

• Discuss why it is      important for an organization’s supply chain to include the management of      their data and financial strategies by answering the following questions: 
  • What types of supply       chain tools help a company collect data? Please describe two types of       tools. 
  • How does supply chain       management help a company to improve efficiency and effectiveness?  
  • How does contract       bidding improve a company’s financial outcome? 
  • Why is forecasting       demand important?

Be sure to include your required references and format your submission in APA format.