The Customer's Customer Is Upstream in the Supply Chain

question 132

True/False

The customer's customer is upstream in the supply chain.

Understand and compute exact simple interest for loans using a 365-day year.

Understand and compute ordinary simple interest for loans using a 360-day year.

Calculate the total repayment amount (principal + interest) for short-term loans.

Estimate interest by rounding the principal to the nearest hundred dollars and using shortcuts for interest calculation.

---

Definitions:

Sourcing

The process of finding suppliers of goods or services, especially in a manufacturing or business context.

Procurement

The process of obtaining goods or services, typically for business purposes.

Materials Management

The branch of logistics that focuses on physically sourcing, moving, and storing materials, as well as coordinating these operations to ensure the right materials are available at the right time.

Logistics Function

The specific tasks and operations within logistics, focusing on the efficient and effective movement and storage of goods.