Efficient Consumer Response Systems Refer to

question 196

Multiple Choice

Efficient consumer response systems refer to

• A)an order replenishment system that maintains a ten percent inventory rate at all times in order to guarantee there will never be stockouts.
• B)an online virtual inventory storage program that allows firms to enter in minute-by-minute information in order to avoid stockouts due to unforeseen environmental forces.
• C)a computer program that allows even the smallest manufacturer to manage his or her own inventory system.
• D)inventory management systems that are designed to reduce the retailer's lead time for receiving merchandise which then lowers a retailer's inventory investment, improves customer service levels, and reduces logistics expense.
• E)exclusive contractual agreements between delivery services such as Federal Express, or UPS to deliver rush orders at a special low rate, regardless of the day, time, or other package traffic.

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Definitions:

Subcontracting

The practice of assigning or outsourcing part of the contractual obligations or work to another party, often to specialize or expedite processes.

Seasonal Workforce

Employees hired on a temporary basis, often in industries that experience fluctuations in demand at different times of the year.

Tourism Industry

A sector of the economy that encompasses all activities related to travel and hospitality for leisure or business purposes.

Aggregate Planning

a process in operations management aimed at determining optimal production levels, inventory levels, and workforce levels, considering forecasted demand over a medium-term horizon.