The Goal of SCM Is to Create a Fast, Efficient

question 43

Short Answer

The goal of SCM is to create a fast, efficient, and low-cost network of business relationships, or a _______________, to get a company's products from concept to market.

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Definitions:

False Consensus

A cognitive bias where individuals overestimate how much others share their beliefs, values, or behaviors.

Spotlight Effect

The spotlight effect is the belief that others observe us more closely than they actually do, overestimating the extent to which our actions and appearance are noted by others.

Lump Sum Bonus

Merit pay that is awarded in a single payment and not built into base pay.

Scanlon Plan

A type of gainsharing program that incentivizes employees to increase productivity through cost-saving measures, sharing the resulting financial gains.