A Supply Chain Can Use a High Level of Product

question 32

True/False

A supply chain can use a high level of product availability to improve its responsiveness and attract customers, thus increasing revenue for the supply chain.

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Definitions:

Agency Termination

The process of ending the relationship between an agent and their principal, which can occur for various reasons such as fulfillment of the agency purpose or mutual agreement.

Principal and Third Party

Legal terms describing the major participant in a transaction (principal) and an outsider who has a lesser role (third party).

Agency Contract

A legal agreement wherein one party, the agent, agrees to act on behalf of another party, the principal, in business transactions.

Bound

Legally or morally obligated; a condition of being tied to an agreement or course of action.