Some Researchers Use the Term "_____" Instead of "Supply Chain

question 26

Short Answer

Some researchers use the term "_____" instead of "supply chain" because many industry value chains include many parallel lines that are interconnected in a network configuration made up of strategic alliances or complex configurations of outsourcing contracts.

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Definitions:

Mixed Strategy

Strategy in which a player makes a random choice among two or more possible actions, based on a set of chosen probabilities.

Game Theory

A mathematical and economic theory that analyzes the strategic interactions among rational decision-makers.

Homogeneous Good

A product that is considered identical or uniform across producers and can be easily substituted.

Annual Profit

The total earnings a business has after subtracting all expenses over a year.