All of the Following Are Examples of How Supply Management

question 1

Multiple Choice

All of the following are examples of how supply management should monitor and anticipate activity in its supply market except _____.

• A)ensuring that cost accounting keeps track of historical prices paid
• B)forecasting long-term supply and prices for its basic commodities
• C)monitoring technological innovations that impact its primary materials or make substitute materials economically attractive
• D)evaluating not only its existing suppliers but also other potential suppliers
• E)providing timely visibility to new-product requirements

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Definitions:

W. Edwards Deming

An American engineer, statistician, professor, author, lecturer, and management consultant known for his work in the field of quality management.

Layout Strategy

An organizational plan for the physical arrangement of business resources, like machinery and equipment, to optimize production efficiency and effectiveness.

Ten Critical Decisions

Refers to the key decisions that managers of operations and supply chain functions need to make to ensure the efficiency and effectiveness of their operations.

Company Income Statement

A financial report that shows a company's revenues, expenses, and profit over a certain period of time.