The Use of Quick Response Inventory Planning,electronic Data Interchange,and Logistics

question 38

Multiple Choice

The use of quick response inventory planning,electronic data interchange,and logistics planning by supermarkets is referred to as _____.

• A)supermarket logistics
• B)efficient inventory management
• C)efficient consumer response
• D)effective inventory management

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Definitions:

Repossess

The act of taking back possession of property by a seller or lender from the buyer or borrower, typically due to failure in payment.

Auction

A public sale in which goods or properties are sold to the highest bidder.

Mortgagee

The lender or financial institution that provides a loan secured by real property.

Financial Institution

An organization that provides financial services to its clients or members, including banks, credit unions, insurance companies, and investment firms.