Those Activities That Focus on Getting the Right Amount of the Right

question 219

Multiple Choice

Those activities that focus on getting the right amount of the right product to the right place at the right time at the lowest possible cost are referred to as

• A)logistics.
• B)strategic marketing.
• C)strategic distribution.
• D)distribution management.
• E)logistical-assisted manufacturing (lad).

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Definitions:

Recessionary Gap

Occurs when the actual output of an economy is less than the potential output, indicating underutilized resources.

Actual Output

The actual total value of goods and services produced by an economy over a specific period.

Potential Output

Potential output refers to the maximum amount of goods and services an economy can produce when it uses its resources fully and efficiently, without prompting inflation.

Cash Conversion Cycle

A metric that expresses the duration (in days) it takes for a company to convert its investments in inventory and other resources into cash flows from sales.