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:

International Trade

The exchange of goods, services, and capital between countries or territories.

Domestic Market

The domestic market refers to the economic activities and transactions happening within a country's borders, focusing on the buying and selling of goods and services locally.

Consumer Surplus

The gap between what consumers are prepared and can afford to pay for a product or service versus what they end up paying.

International Trade

The exchange of goods and services between countries, driven by comparative advantage and resulting in mutual economic benefits.