How does the pursuit of a response strategy impact the supply chain decisions of: 1. primary supplier selection criteria, 2. supply chain inventory, 3 . distribution network, and 4. product design characteristics?
What will be an ideal response?
1. Suppliers should be selected primarily based on capacity, speed, and flexibility.
2. The firm should use buffer stocks to ensure speedy supply.
3 . The firm should use fast transportation, and it should provide premium customer service.
4. Products should have low setup times, and they should be poised for rapid production ramp-up.
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John Stuart Mill's theory of reciprocal demand best applies when trading partners
a. are of equal size and importance in the market. b. produce under increasing cost conditions. c. partially specialize in the production of commodities. d. have similar taste and preference levels.
If auditors conducting attributes sampling found that the entity deviated from a prescribed control in nine of the first 10 items examined, the auditor is most likely to:
A. increase the computed upper deviation rate. B. decrease the tolerable deviation rate. C. increase sample size. D. stop the test and increase control risk.
What two key words in the definition of advertising are crucial to understanding how advertising fits into the promotion mix?
A. paid and nonpersonal B. nonpaid and personal C. paid and communication D. personal and communication E. nonpaid and nonpersonal
Forecasts almost always contain errors
Indicate whether the statement is true or false