Examlex
Which of the following is not one of the five basic components of supply chain management?
Collective Bargaining
The negotiation of labor contracts between labor unions and firms or government entities.
Lockout
A negotiating tactic in which a firm forbids its unionized workers to return to work until a new collective bargaining agreement is signed; a means of imposing costs (lost wages) on union workers.
Efficiency Wages
Higher-than-market wages paid by employers to increase worker productivity, morale, and retention.
Below-equilibrium Levels
Refers to a situation where the quantity of a good or service demanded exceeds the quantity supplied at a given price, typically leading to shortages.
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