The Stage in a Decision Making Process in Which a Decision

question 64

Multiple Choice

The stage in a decision making process in which a decision maker analyzes the alternatives and selects one is called

• A) alternatives formulation.
• B) the choice step.
• C) intelligence gathering.
• D) decision step.
• E) the review step.

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Definitions:

SCM

Supply Chain Management (SCM) is the oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer.

Inventory

Inventory refers to the total amount of goods and materials held in stock by a business, warehouse, or storage facility.

Goods And Services

Goods and services are the products and activities that satisfy human wants; goods are physical items, while services are non-tangible activities or benefits.

Push Model

A business model in which the production process begins with a forecast, which predicts the products that customers will want as well as the quantity of each product. The company then produces the amount of products in the forecast, typically by using mass production, and sells, or “pushes,” those products to consumers.