A Vendor-Managed Inventory System Refers to an

question 252

Multiple Choice

A vendor-managed inventory system refers to an

• A)inventory supply system that operates with very low inventories and requires fast on-time delivery.
• B)inventory management system whereby the supplier determines the product amount and assortment a retailer needs and automatically delivers the appropriate items.
• C)inventory management system that is designed to reduce the retailer's lead time for receiving merchandise,which then lowers a retailer's inventory investment,improves customer service levels,and reduces logistic expenses.
• D)inventory supply system that relies on the "judgment" of individual warehouse managers based on daily reports from its retailer customers.
• E)inventory system that guarantees delivery within 48 hours,and grants price reductions of 1 percent per hour if a shipment is delayed.

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Definitions:

Scope

Scope refers to the extent or range of view, reach, application, operation, or effectiveness of a particular action, subject, or policy.

Named Range

A feature in spreadsheet software that allows users to assign a name to a cell range for easier reference.

Dialog Box

A small window that appears in a user interface to communicate information to the user and solicit a response.

User Name

A unique identifier selected by or assigned to an individual user to gain access to a computer system or online service.