A Vendor-Managed Inventory System Refers to an

question 339

Multiple Choice

A vendor-managed inventory system refers to an

• A)inventory supply system that operates with very low inventories and requires fast on-time delivery.
• B)inventory management system whereby the supplier determines the product amount and assortment a retailer needs and automatically delivers the appropriate items.
• C)inventory management system that is designed to reduce the retailer's lead time for receiving merchandise,which then lowers its inventory investment,improves customer service levels,and reduces logistic expenses.
• D)inventory supply system that relies on the "judgment" of individual warehouse managers based on daily reports from its retailer customers.
• E)inventory system that guarantees delivery within 48 hours,granting price reductions of 1 percent per hour if a shipment is delayed.

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Definitions:

Single-Parent Families

Family units consisting of one parent and his or her children, which may result from divorce, separation, death of a spouse, or unmarried parenthood.

Poverty Level

A defined threshold that determines the minimum income requirement for individuals and families to afford basic living expenses, used to identify and measure individuals' and households’ economic status.

Demarcation Lines

Boundaries that distinguish or separate different areas, responsibilities, or categories in various contexts.

Boundaries

In psychological and social contexts, boundaries define the limits and rules for acceptable behavior, communication, and interactions among individuals or groups.