Regarding a "Chain of Supply

question 82

Multiple Choice

Regarding a "chain of supply":

• A) All of the firms in the chain of supply should work together to meet the needs of the customer at the end of the chain.
• B) Logistics functions are not shifted or shared among the firms in the chain of supply.
• C) Firms never outsource the whole job of planning and implementing their logistics systems.
• D) It always includes at least two channels of distribution.
• E) None of these alternatives about "chain of supply" is correct.

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Definitions:

Variable Cost

A cost that varies directly with the level of production or volume of output, as opposed to fixed costs, which remain constant regardless of activity level.

Direct Labor

The wages of employees who are directly involved in the production of goods or services.

Direct Materials

Raw materials that are used directly in the manufacturing of a product and can be directly attributed to the product.

Borrowing

The act of receiving something with the intention to return it, often referring to money from a lender under agreed terms.