The Ability for Members to Connect in Real Time to Any

question 47

Multiple Choice

The ability for members to connect in real time to any part of the supply chain to access data such as forecasts,shipments,inventory levels,and shortages that could impact the timely flow of products is called:

• A)electronic data interchange (EDI).
• B)e-commerce.
• C)quick response (QR).
• D)supply chain visibility.
• E)event management.

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Definitions:

More Elastic

Refers to a situation where the demand for a product is more responsive to changes in price or other factors.

Superior Quality

A designation for products or services that exceed standard quality benchmarks, often leading to higher customer satisfaction.

Less Elastic

Refers to a situation where a change in price leads to a relatively smaller change in the quantity demanded or supplied.

Less Elastic

Describes demand that is relatively insensitive to price changes, indicating consumers do not reduce purchase quantities significantly when prices increase.