Convenience in a Supply Chain Refers to the Concept That

question 298

Multiple Choice

Convenience in a supply chain refers to the concept that

• A) there should be a minimum of effort on the part of the buyer in doing business with the supplier.
• B) all products or services should be available 24 hours a day, 7 days a week, and 365 days a year.
• C) all tasks required to make an exchange are the sole responsibility of the supplier.
• D) an exchange requires equal effort by both the buyer and supplier.
• E) all logistical services are provided by a supplier network.

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Definitions:

Plantwide Overhead Rate

A single overhead absorption rate used throughout a manufacturing plant to allocate overhead costs to products.

Activity-based Costing

A costing method that allocates overhead and indirect costs to specific activities, providing a more accurate representation of the costs associated with producing a product.

Activity-based Costing

An accounting method where overhead and indirect costs are allocated to the corresponding products and services based on the required activities.

Floral Bouquets

Arrangements of flowers, typically designed and prepared by florists, that are sold for various occasions such as weddings, celebrations, or as gifts.