Logistics Management Is Organizing the Cost-Effective Flow of Raw Materials

question 243

Multiple Choice

Logistics management is organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to:

• A)eliminate all competition.
• B)maintain organizational culture.
• C)create maximum profit.
• D)satisfy customer requirements.

---

Definitions:

A/R Ratio

A financial metric, often used in business, representing Accounts Receivable turnover or efficiency in collecting receivables.

Cost-Benefit Analysis

A systematic approach to estimating the strengths and weaknesses of alternatives to determine the best option to achieve benefits while minimizing costs.

Office Manager

An Office Manager is a professional responsible for overseeing the day-to-day operations of an office, including administrative tasks and staff supervision.

Accounts Payable

Financial obligations or debts a company owes to its suppliers or creditors for goods and services received.