What Is a Benefit of Having an Efficient Supply Chain

question 73

Multiple Choice

What is a benefit of having an efficient supply chain?

• A) fewer associates are needed to replenish stock
• B) planning strategy becomes more predictable
• C) more time for customer services
• D) less negotiating with vendors
• E) fewer stockouts

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Definitions:

Public Good

A product or service that is available for all to consume, regardless of who pays and who doesn't, characterized by non-excludability and non-rivalry.

Free-ride

The act of benefiting from resources, goods, or services without paying for the cost of the benefit.

Rival

In economics, a good or service is considered rival if its consumption by one individual prevents simultaneous consumption by other individuals.

Excludable

Refers to a property of a good or service where it's possible to prevent people who have not paid for it from having access to it.