What Is Supply Chain Event Management (SCEM)

question 66

Multiple Choice

What is supply chain event management (SCEM) ?

• A) Enables an organization to react more quickly to resolve supply chain issues
• B) Applies technology to the activities in the order life cycle from inquiry to sale
• C) Allows an organization to reduce the cost and time required during the design process of a product
• D) Helps organizations reduce their investment in inventory while improving customer satisfaction through product availability

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Definitions:

Price Level

An assessment of the standard prices of goods and services in an economy at a particular moment.

Real GDP

The total value of all goods and services produced by a country, adjusted for inflation or deflation.

Expansionary Gap

A situation in macroeconomics when aggregate output is above potential output, often leading to inflationary pressures.

Recessionary Gap

Describes a situation where the real GDP of an economy is less than its potential GDP, indicating underutilized resources and a sluggish economy.