When Working with Clients, the Professional Should

question 25

Multiple Choice

When working with clients, the professional should

• A) Focus on understanding a situation or problem from the client's point of view.
• B) Apply his/her own point of view to the client's situation to provide alternative solutions.
• C) Base suggestions on personal opinions and what the professional would do in the situation.
• D) Allow personal values to influence professional behavior.

Understand the concept and importance of intermodal transportation and its distinction from intrastate transportation.

Recognize the basic functions of warehousing activities.

Identify and explain the components of inventory carrying costs.

Grasp the importance of supply chain management in sharing supply and demand information with suppliers and customers.

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Definitions:

Pin Factory

An example used by Adam Smith to illustrate how division of labor increases productivity.

ATC Curve

Average Total Cost Curve, a graph that shows the cost per unit of output produced, plotted against the quantity of output.

Economies Of Scale

Cost advantages reaped by companies when production becomes efficient, resulting in a decrease in the per-unit cost as the output increases.

AVC

Average Variable Cost, which is the cost a company incurs to produce one additional unit of a product, excluding fixed costs.