An Advantage of Using a Third-Party Logistics Service (3PL) Is

question 42

Multiple Choice

An advantage of using a third-party logistics service (3PL) is improved:

• A) on-time delivery of shipments due to higher inventory levels.
• B) cost structure due to economies of scale.
• C) access to smaller markets due to localization.
• D) risk visibility due to inventory consolidation.

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Definitions:

Marginal Product of Labor

The additional output produced as a result of adding one more unit of labor, holding all other inputs constant, often used to measure worker efficiency.

Value of the Marginal Product

The additional revenue generated by employing one more unit of a factor, holding all else constant.

Marginal Product

The additional output that is produced by adding one more unit of a specific input, while holding other inputs constant.

Price Per Unit

The cost of a single unit of a product, often used to compare different product costs directly.