Supply Chain Management Has Grown as a Prevalent Perspective on Operations

question 11

Multiple Choice

Supply chain management has grown as a prevalent perspective on operations management because:

• A)Purchasing managers now have stronger roles in companies.
• B)Firms have become more vertically integrated.
• C)Technology has facilitated globalization.
• D)Governments have become less open to trade.

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Definitions:

Unsecured Liability

A financial obligation that does not have collateral backing, meaning creditors may not have claims on the borrower's assets if the debt is not repaid.

Salaried Employees

Workers who are paid a fixed regular amount, typically monthly or biweekly, regardless of hours worked, as opposed to being paid hourly.

Liquidation

The process of winding up a company's operations, selling off its assets, and distributing the proceeds to creditors and shareholders.

Stockholders' Equity

Represents the owners' residual interest in a corporation's assets after deducting its liabilities, often referred to as shareholders' equity or owners' equity.