The Five Forces of Competitive Pressures Do Not Include

question 56

Multiple Choice

The five forces of competitive pressures do not include

• A)the power and influence of social/demographic trends.
• B)the bargaining power of suppliers and seller-supplier collaboration.
• C)the threat of new entrants into the market.
• D)the attempts of companies in other industries to win customers over to their own substitute products.
• E)the market maneuvering and jockeying for buyer patronage that goes on among rival sellers in the industry.

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Definitions:

Kaizen

A Japanese term for 'continuous improvement', focusing on small, incremental changes in processes to improve efficiency and quality.

Small Lot Sizes

Manufacturing or purchasing strategy characterized by producing or acquiring goods in small quantities, which can reduce inventory costs and improve flexibility.

Material Handling

The movement, protection, storage, and control of materials and products throughout manufacturing, warehousing, distribution, consumption, and disposal processes.

JIT

Just-In-Time; an inventory management strategy that aims to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.