Logistics Refers to

question 273

Multiple Choice

Logistics refers to

• A) an inventory management system where the supplier determines the product amount and assortment a retailer needs and automatically delivers the appropriate items.
• B) mathematical formulas and calculations used in determining product volume and demand in order to generate the greatest revenue at the lowest cost.
• C) the sequence of firms that performs activities required to create and deliver a product or service to ultimate consumers or industrial users.
• D) activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost.
• E) a specialized intermediary in the distribution chain responsible for the coordination of all production schedules.

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Definitions:

Kinds of Work

Different categories or types of employment, ranging from physical labor to intellectual and service occupations.

Rewards Received

Benefits, or positive outcomes that are gained as a result of one's actions or behaviors.

Traditionality

The quality of adhering to traditions or long-established customs and practices.

Occupational Influence

The impact that one's occupation or career choice has on their lifestyle, personal identity, and social relationships.