________ Is the Sharing of Forecasts and Related Business Information

question 52

Multiple Choice

________ is the sharing of forecasts and related business information between retailers and vendors to improve supply chain efficiency and product replenishment.

• A) Automated replenishment system
• B) Universal Product Code (UPC) system
• C) Electronic data interchange (EDI) system
• D) Point-of-sale (POS)
• E) Collaborative planning, forecasting, and replenishment (CPFR)

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Definitions:

Marginal Cost

The financial outlay for producing a further unit of a product or service.

Perfectly Competitive Firm

A business that operates in a market where there are many buyers and sellers, each selling identical products, and no single buyer or seller can influence market prices.

Short Run

In economics, it denotes a period in which at least one input (e.g., capital) is fixed and cannot be altered.

Economic Profit

The total revenue of a business minus its explicit and implicit costs; a measure of profitability that includes opportunity costs.