Which of the Following Describes Either Lean or Agile Supply

question 42

Multiple Choice

Which of the following describes either lean or agile supply chains?

• A) In a lean supply chain,products are built before demand occurs; unsold goods are treated as short-term loss incurred to increase market presence.
• B) Lean supply chains wait until demand is big enough to help production reach economies of scale so that the waste is minimum or nil.
• C) Agile strategies try to forecast demand and reduce waste,with the aim to maximize customer responsiveness in specific market segments.
• D) Agile supply chains wait for demand to occur and use communication and flexibility to fill that demand quickly.

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Definitions:

Production Possibilities Diagram

A graphical representation showing the maximum number of output combinations that an economy can achieve using its resources efficiently.

Inefficiently

Operating in a manner that does not maximize productivity or wastes resources, leading to lower outputs for given inputs.

Property Rights

Legal rights to possess, use, and dispose of assets, including real estate, intellectual property, and personal possessions.

Private Owners

Individuals or entities that legally possess property or businesses and hold exclusive rights over their use and distribution.