A supply chain involves many organizations and business processes. The objective of a supply chain is to maximize the total supply chain surplus. While an individual business owner tends to maximize its own profitability. Will it conflict with the supply chain objective? If yes, under what situations? Describe how the conflict may hurt the welfare of the whole supply chain.

Consider the supply chain processes involved when a customer purchases a book at a bookstore. Identify the$$cycles$$in this supply chain and the location of the$$push$/$pull boundary.