Which of These Statements About Recent Trends in Operations and Supply

question 11

Multiple Choice

Which of these statements about recent trends in operations and supply chain management is best?

• A) A lower level of competition exists thanks to an increased level of globalization.
• B) The rate of change in markets is actually lower once inflation is factored in.
• C) Managers tend to make decisions with less information than they used to.
• D) Customers demand for standardization in goods and services has increased.

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Definitions:

General Principle

A fundamental truth, law, or concept that serves as the foundation for a system of belief or behavior or for a chain of reasoning.

Predictions

Statements or assertions about what will happen in the future, often based on observation, hypothesis, or statistical analysis.

Heuristic

A mental shortcut or rule of thumb that simplifies decision making, not guaranteed to be optimal, perfect, or rational, but useful for making quick decisions.

Subgoal

A smaller, intermediate objective set as a step towards achieving a larger goal.