Supply Chain Execution Systems Enable the Firm to Generate Demand

question 98

True/False

Supply chain execution systems enable the firm to generate demand forecasts for a product and to develop sourcing and manufacturing plans for that product.

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Definitions:

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than another.

Competitive World Market

A global economic environment where businesses compete across borders to offer the best products and services.

Trade Restrictions

Measures imposed by governments to control or limit the exchange of goods and services across their borders, including tariffs, quotas, and embargoes.

Comparative Advantage

The ability of an entity to produce goods or services at a lower opportunity cost than others, leading to more efficient trade.