A Forecasting System That Brings the Manufacturer and Its Customers

question 48

Multiple Choice

A forecasting system that brings the manufacturer and its customers together to provide input for forecasting is a(n) :

• A) nested system.
• B) harmonically balanced supply chain.
• C) iterative Delphi method system for the supply chain.
• D) collaborative planning, forecasting, and replenishment system.

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Definitions:

Allocative Efficiency

A state of resource allocation where it is impossible to make any one individual better off without making at least one individual worse off.

Productive Efficiency

A condition in which an economy or entity is utilizing all its resources efficiently, producing maximum output for a given set of inputs without waste.

Demand (D)

The quantity of a good or service that consumers are willing and able to purchase at various prices during a certain period of time.

Supply (S)

The total amount of a good or service that is available for purchase at any given price level in a market.