According to Porter's Model,one Should Add Cost to a Business

question 89

True/False

According to Porter's model,one should add cost to a business process if the change generates value greater than its cost.

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Definitions:

Bullwhip Effect

A phenomenon in supply chain management where small variations in demand at the retail level cause increasingly larger variations in demand at the wholesale, distributor, and manufacturer levels.

CPFR

Collaborative Planning, Forecasting, and Replenishment, a business practice where supply chain partners share information and resources to better predict demand and optimize supply.

Technology

The application of scientific knowledge for practical purposes, especially in industry.

Replenishment Lead Time

The time interval between placing an order and receiving the stock, crucial for inventory management.