Examlex
When students are required to work in pairs on a class project" once a given individual chooses her partner" she is no longer available to others in the class as a potential work partner. Thus" her likelihood of engaging in an exchange relationship with her other classmates decreases" and the potential rewards associated with these other (alternative) alliances diminish. The scenario just described illustrates which kind of exchange network?
Bullwhip Effect
A phenomenon in supply chain management where small fluctuations in demand at the retail level cause increasingly larger fluctuations in demand at the wholesale, distributor, and manufacturer levels.
Manufacturing
The process of producing goods through the combination of labor, machinery, tools, chemical or biological processing, or formulation.
Reactive Capability Strategy
A business approach focusing on the ability to respond to changes in market demand or operational challenges quickly and efficiently.
Machine Flexibility
The ability of a machine to quickly adapt to producing different types of products or parts without significant downtime or cost.
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