Many Firms Today Are Reducing the Number of Suppliers They

question 93

Multiple Choice

Many firms today are reducing the number of suppliers they use and instead are focusing on building strong relationships with just a few suppliers.What are the advantages of doing this?

• A)Increased use of automation
• B)More control over raw material delivery
• C)Fewer materials used in the process
• D)All of these.
• E)Only "increased use of automation" and "more control over raw material delivery"

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion in a set of values.

Confidence Interval

A range of data figures, acquired from sample analysis, predicted to include the value of an unacknowledged population characteristic.

Confidence Interval

A range of values, derived from sample statistics, that is believed to contain the true value of a population parameter with a specified level of confidence.

Population Proportion

The fraction or percentage of members in a population that exhibit a particular trait or characteristic.