Which of the Following Is the Inventory Control System That

question 33

Multiple Choice

Which of the following is the inventory control system that manages the replenishment of raw materials,supplies,and components from the supplier to the manufacturer?

• A) electronic data interchange (EDI)
• B) distribution resource planning (DRP)
• C) third party logistics firm (3PL)
• D) materials requirement planning (MRP)
• E) activity-based costing (ABC)

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Definitions:

Real Wage

The purchasing power of wages, considering the effects of inflation on what can actually be bought with those wages.

Aggregate Demand

Full economic demand for all types of goods and services, calculated at a unified price level throughout a chosen period.

Price Level

The summarised price average of every good and service within the economic domain.

Output Levels

Output levels refer to the quantity of goods and services produced by an economy or firm during a specific period.