Which One of the Following Is a Characteristic of an Efficient

question 23

Multiple Choice

Which one of the following is a characteristic of an efficient and effective supply chain management?

• A) Decrease threat of new entrant to market place
• B) Increase its own power as supplier
• C) Decrease threat of substitute products and services
• D) All of these

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Definitions:

Illusory Correlation

The perception of a relationship between two variables even when no such relationship exists, often due to cognitive biases.

Predictive Accuracy

The degree to which a forecast or prediction correctly anticipates future events or outcomes.

Random Assignment

A method used in experiments where participants are allocated to different groups in a way that ensures each has an equal chance of being assigned to any group, reducing bias.

Cause and Effect

The principle that every event (effect) has one or more causes; the basis of logical reasoning and scientific investigation.