The Basic Purpose of Supply Chain Management Is to

question 61

Multiple Choice

The basic purpose of supply chain management is to

• A) create an exclusive set of suppliers who will not supply your competitors.
• B) link your customers together so that the flow of materials remains under control.
• C) synchronize the operations of all suppliers with those of purchasing, production, distribution, and customers.
• D) reduce the inventory by proper selection of customers and transportation modes.

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Definitions:

Equal Payments

Equal payments entail a financial agreement where payments or installments remain consistent over a specified period.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, commonly expressed as an annual percentage of the loan outstanding.

Missing Value

A term used in statistics and data analysis for a data point that is not recorded or is unknown.

Term Deposit

A type of bank deposit that has a fixed term and typically offers a higher interest rate than a regular savings account, where withdrawing funds before the term ends may result in penalties.