What Is Supply Chain Management (SCM)

question 147

Multiple Choice

What is supply chain management (SCM) ?

• A) The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability.
• B) Takes information entered into a given system and sends it automatically to all downstream systems and processes.
• C) A means of managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability.
• D) Connects the plans, methods, and tools aimed at integrating separate enterprise system.

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Definitions:

Global Retail Development Index

An annual study that ranks countries based on the attractiveness and potential of their retail markets for investment by retail companies.

Trade Surplus

A situation where a country exports more goods and services than it imports, leading to a positive balance of trade.

Exporting

Producing goods in one country and selling them in another.

Joint Venture

Formed when a firm entering a new market pools its resources with those of a local firm to form a new company in which ownership, control, and profits are shared.