A Supply Chain

question 165

Multiple Choice

A supply chain:

• A) is part of a broader network of relationships called a channel of distribution.
• B) is most effective when the objectives of the manufacturer at the beginning of the chain guide the activities of all other firms in the chain.
• C) requires skill in coordinating activities among different firms, and this has prompted many firms to seek help from outside experts.
• D) focuses on procuring materials needed for production, so its main weakness is that it ignores customer needs.
• E) concerns only direct relationships between producers, but a channel of distribution may involve intermediaries.

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Definitions:

Individual Partner

A member of a partnership who contributes capital, participates in management, and is personally liable for partnership debts.

Dissolution

The process of formally ending or dismissing a legal entity or agreement, such as the dissolution of a corporation or marriage.

Partnership Contract

A legally binding agreement between partners that outlines the terms, conditions, and operation of a partnership.

Writing

The representation of language in a textual medium through the use of a set of characters or symbols.