The Process of Managing the Movement of Raw Materials, Parts

question 261

True/False

The process of managing the movement of raw materials, parts, work in progress, finished goods, and related information through all of the organizations involved in the supply chain in a timely manner is called multi-modal management.

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Definitions:

Insurable Interest

The requirement that a policyholder must stand to lose financially if the insured event occurs, establishing a legal right to insure the item or life.

Insurance Company

A business entity that provides financial protection and compensation for losses in exchange for payment of premiums.

Premium

The amount paid for an insurance policy or the charge for accepting a higher risk in financial transactions.

Business Interruption Insurance

An insurance that provides coverage for revenue lost due to a temporary business closure caused by an insured disaster.