Which of the Following Best Describes the Goal of Supply

question 10

Multiple Choice

Which of the following best describes the goal of supply chain management?

• A)to maximize retailers' profits by reducing costs while satisfying service levels that their customers require
• B)minimizing system wide costs while satisfying the service levels (product availability)that customers desire
• C)reducing costs by allocating merchandise
• D)maximizing retailers' profits by reducing system wide costs,while achieving the highest service level (product availability)
• E)minimizing system wide costs,while achieving the highest service level (product availability)

---

Definitions:

Positive-Sum Strategy

A situation in economic, political, or trade relations where all parties benefit, as opposed to a zero-sum game where the gain of one party is exactly balanced by the loss of another.

Terminal Nodes

The end points of a decision tree where the outcomes are listed, with no further branches.

Sequential Game

A type of game in game theory where players make decisions one after another, with later players having some knowledge of earlier actions.

Nash Equilibrium

A concept in game theory where no player can benefit by changing their strategy while the other players keep theirs unchanged.