The Practice of Locating Stock Closer to Customers at a Warehouse,distribution

question 128

Multiple Choice

The practice of locating stock closer to customers at a warehouse,distribution centre,wholesaler,or retailer is referred to as

• A) inventory pooling.
• B) vendor managed inventories.
• C) forward placement.
• D) channel assembly.

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Definitions:

Opportunity Cost

The abandonment of possible advantages from other paths when deciding on one.

Production Possibilities Curve

A graphical representation showing the maximum quantity of two goods that can be produced with fixed resources and technology, demonstrating the trade-offs in production.

Unemployment

A condition where people who have the ability and desire to work are unable to secure jobs.

Production Possibilities Frontier

A curve depicting the maximum attainable combinations of two or more products that may be produced with available resources and technology.