A Supply Chain Refers to

question 10

Multiple Choice

A supply chain refers to

• A)the sequence of firms that performs activities required to create and deliver a product or service to ultimate consumers or industrial users.
• B)an inventory management system where the supplier determines the product amount and assortment a retailer needs and automatically delivers the appropriate items.
• C)mathematical formulas and calculations used in determining product volume and demand in order to generate the greatest revenue at the lowest cost.
• D)activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost.
• E)a specialized intermediary in the distribution chain responsible for the coordination of all production schedules.

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Definitions:

Inflation

The pace of escalation in the overall price environment for goods and services, lessening the ability to procure.

Real Exchange Rate

A measure of the value of one country's currency compared to another's, adjusted for inflation, reflecting the purchasing power of the currencies for goods and services.

Net Exports

The difference between a country's total value of exports and its total value of imports, indicating whether it has a trade surplus or deficit.

Purchasing-power Parity

A theory in economics that states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries.