Local Optimization Is a Supply-Chain Complication Best Described As

question 41

Multiple Choice

Local optimization is a supply-chain complication best described as:

• A) optimizing one's local area without full knowledge of supply chain needs.
• B) obtaining very high production efficiency in a decentralized supply chain.
• C) the prerequisite of global optimization.
• D) the result of supply chains built on suppliers with compatible corporate cultures.
• E) the opposite of the bullwhip effect.

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Definitions:

Employment Success

The achievement of career objectives, personal satisfaction, and positive contributions to an organization or society through one's work.

Hindsight Bias

The tendency to believe, after an event has occurred, that one would have predicted or expected the outcome, also known as the "I-knew-it-all-along" effect.

Placebo Effect

The phenomenon by which patients experience a perceived or actual improvement in their condition solely due to their belief in the efficacy of a treatment, regardless of its actual therapeutic value.

Illusory Correlation

The cognitive bias of perceiving a relationship between variables (typically people, events, or behaviors) even when no such relationship exists.