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Walmart Using Sales Data from Point-Of-Sale Terminals to Trigger Reordering

question 76

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Walmart using sales data from point-of-sale terminals to trigger reordering stock instantaneously is an example of which value chain management strategy?


Definitions:

Random Variable

A variable whose numerical values stem from unpredictable phenomena.

Normally Distributed

Describes a probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Starting Salaries

The initial amount of money that an employee earns annually when beginning a new job.

Standard Deviation

A system for evaluating the degree of dispersion or deviation among a collection of statistics.

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