Reverse Logistics Refers to

question 258

Multiple Choice

Reverse logistics refers to

• A) the collection of used goods donated to nonprofit organizations by ultimate consumers to be restored, cleaned, repaired, and resold back to ultimate consumers.
• B) deconstructing products that failed to pass quality inspection standards on the production line and reusing workable parts instead of throwing out the entire unit.
• C) the process of reclaiming recyclable and reusable materials, returns, and reworks from the point of consumption or use for repair, remanufacturing, redistribution, or disposal.
• D) organizing a cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements.
• E) the donation of old or broken automobiles to nonprofit organizations that can be recycled or turned into scrap with the profits applied to the organization's operating expenses.

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Definitions:

UCC

Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.

Seal

A device used to impress or mark documents as a form of authentication or to signify agreement.

Charitable Pledges

Promises or commitments to donate a specific amount of money to a charity or for a philanthropic cause.

Bankruptcy

A legal process for individuals or entities that are unable to repay their debts, allowing for a reorganization or elimination of debt under the protection of the law.