Which term describes a company’s strategy to control multiple steps within their supply chain?

The term that accurately describes a company’s strategy to control multiple steps within their supply chain is vertical integration. This approach involves a company taking ownership of various points along the supply chain, which can include everything from production to distribution and retail. By integrating these processes, a company can enhance efficiency, reduce costs, and improve supply chain management.

For instance, a manufacturer that acquires suppliers or distributors can streamline operations and exert greater control over product quality and delivery timelines. This strategy is particularly beneficial in industries where managing the supply chain is crucial for maintaining competitive advantage. Vertical integration can either be backward, where a company takes control of its supply of raw materials, or forward, where it takes control over the distribution of its products.

Other terms such as horizontal integration refer to a different strategy—where a company expands its control across similar business activities or markets rather than along its supply chain. Global collaboration focuses on partnerships and alliances that span various countries but does not imply ownership or control. Market penetration targets increasing market share within existing markets without necessarily changing the supply chain structure itself.

Thus, vertical integration is the most fitting term for the concept of controlling multiple steps within a company's supply chain.