What Are the Two Ways That Firms Can Be Involved

question 35

Essay

What are the two ways that firms can be involved in importing and exporting? Briefly describe each of these methods.Explain transaction cost theory.

---

Definitions:

Order Communication

The methods and processes used to place, confirm, and track orders between buyers and suppliers.

Due Date Fulfillment

The ability of a company to meet the promised delivery time frames for customer orders.

Supply Chain Operations

Supply Chain Operations encompass all processes involved in the production and distribution of goods, from raw material sourcing to final delivery to consumers.

Order Handling

The processes involved in receiving, processing, and fulfilling orders, critical for customer satisfaction.