What Is the UN Global Compact

question 52

Multiple Choice

What is the UN Global Compact?

• A) It is a standard of business practice that all countries are expected to follow,by law.
• B) It is a set of mandatory rules by which multinational corporations are expected to operate.
• C) It is a body of rules that deals exclusively with fair pricing and customer satisfaction.
• D) It is a voluntary corporate initiative that addresses the main concerns of globalization.

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Definitions:

Supply Chain Inventory

This is the total of all the goods and raw materials held by different companies participating in the supply chain from production to the sale of the final product.

Physical Flow

The movement of physical goods and materials through a supply chain from suppliers to consumers.

Fixed-Period Inventory

A system of inventory management where stock levels are reviewed at set intervals and orders are placed as needed.

Economic Order Quantity

is a formula used to determine the optimal order size that minimizes the sum of ordering, holding, and stockout costs.