To Lower Costs and Reduce Manufacturing Time, Michelin Has People

question 158

Multiple Choice

To lower costs and reduce manufacturing time, Michelin has people work together on important purchases.These people include individuals in the roles of buyers, deciders, gatekeepers, and others, as needed.This type of cross-functional group is known as a(n)

• A)status quo committee.
• B)negotiating panel.
• C)buying center.
• D)supply partnership.
• E)strategic agency.

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Definitions:

Budget Line

A representation of all possible combinations of two goods that an individual can afford given their income and the prices of the goods.

Income-Consumption Curve

A graphical representation showing how a consumer's optimal bundle of goods varies with changes in income.

Price Elasticity

A measure reflecting the impact of price variations on the demand for a particular product.

Telephone Wire

The physical medium through which electrical signals for voice communication are transmitted over distances, traditionally made of copper.