Harold's Fish Shop Decides to Reduce Its Purchases from Poorly

question 36

Multiple Choice

Harold's Fish Shop decides to reduce its purchases from poorly performing fish suppliers and focus future orders with suppliers that have been top-performing in the past.This is an example of:

• A) Supply base rationalization
• B) Supplier development
• C) Top-tier supplier selection
• D) Selective sourcing

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Definitions:

Smoothing Constant

A parameter used in exponential smoothing models to weigh the significance of the most recent observation in forecasting.

Time Series

Time Series refers to a sequence of data points collected or recorded at successive times, often at regular intervals.

Exponential Smoothing

A time series forecasting method for univariate data that applies decreasing weights over time.

Liquor Sales

The revenue generated from the sale of alcoholic beverages.