Order Cycle Time (OCT) Is Another Very Important Logistics Service

question 25

True/False

Order cycle time (OCT) is another very important logistics service metric. OCT influences product availability, customer inventories, and seller's cash flow and profit.

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Definitions:

Competitive Advantage

The advantage a company has over its competitors, allowing it to generate greater sales or margins and/or retain more customers.

Monopolistic Market

A market structure characterized by a single seller who has significant control over the market price and conditions, in contrast to perfect competition.

High Value

Refers to items or aspects considered of significant importance or worth, often due to their quality, utility, or rarity.

Continuous-Process Production

A manufacturing approach where materials are continuously in motion or being processed, resulting in a constant output.