The Difference Between Customers' Expectations and the Firm's Perception of Those

question 89

Multiple Choice

The difference between customers' expectations and the firm's perception of those customer expectations is reflected in the:

• A)standards gap.
• B)communication gap.
• C)delivery gap.
• D)vertical integration gap.
• E)knowledge gap.

---

Definitions:

Fixed-Period Inventory Model

An inventory management approach where stock levels are reviewed at regular, fixed intervals, leading to variable order quantities.

Safety Stock

Inventory kept in reserve to protect against shortages due to fluctuations in demand or supply.

Fixed-Quantity Models

Inventory control models that trigger orders of a predetermined quantity whenever the inventory level reaches a specific reorder point.

Stockout

A situation in inventory management when a requested product is not available in stock.