Supply Chain Management

question 50

Multiple Choice

Supply chain management:

• A) helps to ensure delivery of goods and services to customers of the highest value but increases costs.
• B) helps to ensure delivery of goods and services to customers at the lowest costs while providing the highest value.
• C) helps to ensure delivery of goods and services to customers at the lowest cost but can comprise quality.
• D) increases inventory across the supply chain.

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Definitions:

Record Keeping

The systematic process of creating, maintaining, and managing records or documents for the purpose of providing accurate evidence of business transactions and activities.

Simple Exponential Smoothing

A time series forecasting method for univariate data that considers the weighted sum of past observations, with the weights declining exponentially as the observations get older.

Previous Forecast

An estimation or prediction made in the past about future events or conditions, often used as a reference for current planning.

Four-month Moving Average

A method to smooth out data series by averaging the data over four-month periods, often used to identify trends.