The Major Difference Between an Inventory Management System and a Logistics

question 46

Multiple Choice

The major difference between an inventory management system and a logistics system is that the ________.

• A) inventory management system is more concerned with supplier-retailer linkages
• B) inventory management system does not consider the impact of lost business due to stockouts
• C) inventory management system also includes purchasing and customer service considerations
• D) logistics system also includes purchasing and customer service considerations

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.