Which of the Following Is an Advantage of Connecting Customers

question 35

Multiple Choice

Which of the following is an advantage of connecting customers with supply chain businesses?

• A) all companies will share transaction data so inventories can be kept low
• B) customer service reps will have up-to-the-minute inventory information and be able to help consumers more immediately
• C) upstream firms can use data to design products that better meet consumer needs
• D) all of the above

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Definitions:

Legal Cartel Theory

The concept that under specific regulatory frameworks, cartels may operate legally, typically in industries subject to intense regulation for public interest.

Natural Monopolies

Industries where a single firm can supply a product or service at a lower cost than any potential competitor, often due to economies of scale.

Deregulate

The process of removing or reducing government regulations or restrictions in an industry to allow for more freedom and competition.

Natural Monopoly

An industry in which economies of scale are so great that a single firm can produce the industry’s product at a lower average total cost than would be possible if more than one firm produced the product.