Production Can Utilize Forecasts to Make Decisions Concerning

question 76

Multiple Choice

Production can utilize forecasts to make decisions concerning

• A)scheduling.
• B)sales-force allocation.
• C)promotions.
• D)hiring decisions.

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Definitions:

Inventory Management

The supervision of non-capitalized assets (inventory) and stock items, a component of supply chain management that involves overseeing the flow of goods from manufacturers to warehouses and from these facilities to point of sale.

Supply Chain

A network of entities, including suppliers, manufacturers, and retailers, involved in the production, transportation, and distribution of goods from raw materials to final consumers.

Just-In-Time

A supply chain and inventory management strategy that aligns raw-material orders from suppliers directly with production schedules to reduce inventory costs.

Supply Chain Orientation

A management philosophy that guides the actions of company members toward the goal of actively managing the upstream and downstream flows of goods, services, finances, and information across the supply chain.