Hiring People Who Are Efficient,trainable,and Willing to Follow Standardized Procedures

question 13

Multiple Choice

Hiring people who are efficient,trainable,and willing to follow standardized procedures would support a(n) ________ competitive advantage.

• A)product leadership
• B)operational excellence
• C)customer intimacy
• D)training and development

Differentiate between various types of supply chain partnerships (e.g., keiretsu, joint ventures).

Evaluate the challenges of local optimization within supply chains.

Understand the principles and advantages of different supplier relationship models, including drop shipments and joint ventures.

Examine methods for effective supply chain management and optimization strategies.

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Definitions:

Oil

A fossil fuel found in the Earth's crust, primarily used for energy production and as a raw material in the chemical industry; crucial to the global economy.

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than its competitors.

Transaction

An exchange or transfer of goods, services, or funds between two or more parties.

Gain

An increase in wealth, resources, or advantage, often observed in financial contexts such as investment returns.