The Practice of Organizing the Cost-Effective Flow of Raw Materials

question 67

Multiple Choice

The practice of organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements is referred to as

• A) the inventory management process.
• B) logistics management.
• C) production management.
• D) manufacturer distribution logistics.
• E) supply-chain management.

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Definitions:

Consequentialist Approach

A philosophical stance asserting that the morality of an action is based on its outcomes or consequences.

Effectiveness

The degree to which something achieves its intended outcome or performs its intended function.

Ethical Issues

Pertains to questions and situations that involve distinguishing between right and wrong behavior, often in moral terms, within a professional or social context.

Federal Government

A system of government where power is divided between a central (national) government and various regional governments.