Asked by
Bailey Lubben
on Oct 31, 2024
Verified
A firm that employs a "response strategy" should minimize inventory throughout the supply chain.
Response Strategy
A plan of actions designed to address specific challenges, changes, or opportunities in the business environment.
Inventory
The items or goods a company holds for the purpose of resale or production, including raw materials, work-in-progress, and finished goods.
- Apprehend the importance of regulating inventory and its impact on a company's cost management strategies through the supply chain.
Verified Answer
KK
Learning Objectives
- Apprehend the importance of regulating inventory and its impact on a company's cost management strategies through the supply chain.
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