Supply Chain Management Refers to

question 69

Multiple Choice

Supply chain management refers to

• A) the integration and organization of information and logistic activities across firms for the purpose of creating and delivering products and services that provide value to ultimate consumers.
• B) organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point-of-origin to point-of-consumption to satisfy customer requirements.
• C) the integration and organization of information and logistical activities that actively bring consumers together with sellers through the express use of agents and brokers.
• D) an inventory management system that is designed to reduce the retailer's lead time for receiving merchandise, which then lowers a retailer's inventory investment, improves customer service levels, and reduces logistic expenses.
• E) a highly organized system that facilitates minute-to-minute communication between all members of a supply chain and ensures the producer is aware of any changes in delivery or demand for a product or service.

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Definitions:

Functional Autonomy

A principle in psychology that pertains to how motives can become independent from their origins and demonstrate new patterns of behavior.

Functional Autonomy

A concept in psychology that refers to a behavior or motive that has become independent of its original cause or source, serving its own purpose.

Company Marketing Opportunity

A situation or condition that a company can exploit to increase its market share, sales, or brand awareness.

Value Creation

The process of generating additional worth through various strategies, actions, or operations, enhancing the worth of goods, services, or even a brand to stakeholders.