The Three Steps Used in Choosing a Supply Chain Are

question 193

Multiple Choice

The three steps used in choosing a supply chain are (1) understand the customer, (2) understand the supply chain, and (3)

• A) understand the environment.
• B) harmonize the supply chain with the marketing strategy.
• C) understand the marketing mix.
• D) understand the logistics.
• E) understand the company's goals.

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Definitions:

Price Charged

The amount of money required for the purchase of a good or service, set by the seller.

Maximize Profits

The process by which a company seeks to achieve the highest possible financial gain from its operations, often by adjusting production, prices, and costs.

Marginal Revenue

The extra revenue generated by the sale of an additional unit of a product or service.

Marginal Cost

The expense incurred in manufacturing an extra unit of a product or service.