Reverse Logistics Is

question 165

Multiple Choice

Reverse logistics is:

• A)an inventory supply system that operates with very low inventories and requires fast on-time delivery.
• B)a practice that involves unloading products from suppliers, sorting products for individual stores, and quickly reloading products on trucks, which will deliver the products to specific stores.
• C)organizing a cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements.
• D)the process of reclaiming recyclable and reusable materials, returns and reworks from the point of consumption or use for repair, remanufacturing, redistribution, or disposal.

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Definitions:

Natural Log

The logarithm to the base e, where e is an irrational and transcendental constant approximately equal to 2.71828.

Risk Averter

An individual or entity that prefers to avoid risk, typically choosing options with more certain outcomes over those with higher, but more uncertain, returns.

Expected Value

A calculated average of the possible outcomes of a given event, weighted by the likelihood of each outcome occurring.

Natural Log

The logarithm to the base \(e\) (where \(e\) is approximately 2.718), a constant used in mathematics and economics to model growth processes.