Efficient Supply Chains

question 75

Multiple Choice

Efficient supply chains

• A)respond quickly to demand.
• B)have higher margins because price is not a prime customer driver.
• C)maintain buffer inventory to deal with demand/supply uncertainty.
• D)maximize performance at a minimum cost.

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Definitions:

Egocentrism

A cognitive trait where an individual cannot fully understand or assume perspectives other than their own.

Concrete Operational

A stage in Piaget's theory of cognitive development, typically occurring between ages 7 and 11, when children gain a better understanding of concrete and logical operations.

Formal Operational

A stage in Piaget's theory of cognitive development where individuals are able to think abstractly and logically.

Kohlberg's Theory

A theory of moral development proposed by Lawrence Kohlberg, suggesting that moral reasoning evolves through a series of stages from childhood into adulthood.