Table 2-4 Table 2-4 Shows the Number of Labor Hours Required to of Labor

question 135

Multiple Choice

Table 2-4

Table 2-4 shows the number of labor hours required to produce a digital camera and a pound of wheat in China and South Korea.
-Refer to Table 2-4.What is China's opportunity cost of producing one pound of wheat?

• A) 0.04 units of a digital camera
• B) 4 digital cameras
• C) 25 digital cameras
• D) 40 digital cameras

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Definitions:

Replenishment

Entails the process of replenishing inventory or stock to ensure a continuous supply of products to meet customer demand.

VMI System

Vendor-Managed Inventory System; a streamline approach where the supplier is responsible for maintaining the buyer's inventory levels, often based on shared data.

Continuous Replenishment Program

A supply chain initiative where products are continuously supplied to match customer demands without the need for frequent reordering.

POS Data

Information collected from Point of Sale systems, detailing sales transactions, product movement, and customer purchases.