Table 16-1 the Following Table Shows the Percentage of Output Supplied by Supplied

question 334

Multiple Choice

Table 16-1
The following table shows the percentage of output supplied by the top eight firms in four different industries.

-Refer to Table 16-1.Which industry is the most competitive?

• A) Industry W
• B) Industry X
• C) Industry Y
• D) Industry Z

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Definitions:

Demand Forecast

The process of estimating the quantity of a product or service that consumers will purchase in the future.

Safety Inventory

A surplus of stock that is kept on hand to protect against unforeseen increases in demand or delays in supply.

Fill Rate

The percentage of customer or order demand that is met from available stock without backorders.

Continuous Review

A method of inventory control that constantly monitors stock levels and reorders when inventory drops to a predetermined point.