Explain the Difference Between an Efficient and a Responsive Supply

question 73

Essay

Explain the difference between an efficient and a responsive supply chain, and the business context for which each works best.

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Definitions:

Karl Marx

Karl Marx was a 19th-century philosopher, economist, and political theorist known for his critical analysis of capitalism and his influence on the development of communist theory.

Manifest Function

An intended and recognized outcome or effect of a social structure or institution.

Intended Function

The purposeful and expected outcome or role that an object, system, or policy is designed to fulfill.

Racial Equality

The state or condition in which individuals are treated equally regardless of their race, ensuring equal opportunities and protections under the law.