Logistics Refers to

question 273

Multiple Choice

Logistics refers to

• A) an inventory management system where the supplier determines the product amount and assortment a retailer needs and automatically delivers the appropriate items.
• B) mathematical formulas and calculations used in determining product volume and demand in order to generate the greatest revenue at the lowest cost.
• C) the sequence of firms that performs activities required to create and deliver a product or service to ultimate consumers or industrial users.
• D) activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost.
• E) a specialized intermediary in the distribution chain responsible for the coordination of all production schedules.

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Definitions:

Exchange

Exchange is the act of giving one thing and receiving another in return, often referring to goods, services, or currencies between parties.

In-Flight Magazines

Publications specifically designed to be read by passengers during flights, often containing travel articles, advertisements, and entertainment options.

Convention Attendees

Individuals who participate in or attend conferences, conventions, and trade shows related to specific industries or interests.

Special Discount

A temporary reduction in the price of goods or services, often used as a promotional tactic to increase sales.