Which One of the Following Is True for Supply Chain

question 75

Multiple Choice

Which one of the following is true for supply chain management?

• A) Supply chain applies to both manufacturing and service organizations.
• B) Supply chain is about suppliers and does not include distributors or customers.
• C) Supply chain includes any operation that deals with materials.
• D) Supply chain applies only to manufacturing because it deals with flow of materials.

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Definitions:

Labor Efficiency Variance

The difference between the actual hours worked and the standard hours planned, multiplied by the labor rate.

January

The initial month in the Gregorian calendar, marking the start of the year.

Materials Quantity Variance

The financial difference between the actual quantity of materials used in production and the expected quantity, based on standard costs.

February

The second month of the year, often associated with cold weather in the Northern Hemisphere and used as a time period reference in accounting.