"The Very Best Supply Chains Are "Triple A" Systems

question 44

Essay

"The very best supply chains are "triple A" systems." What is meant by this statement? Describe the three components of such systems.

---

Definitions:

Continuous Random Variables

Variables that can take on an infinite number of values within a given range.

Probability Density

A function that describes the relative likelihood for a random variable to take on a given value.

Probability Density Function

A mathematical expression that defines the probability of a continuous random variable assuming a specific value.

Probability Density Function

A function that describes the likelihood of a continuous random variable to take on a particular value.