Question

_______________________________refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores and transportation intermediaries into a seamless operation in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time, as well as to minimize system wide costs while satisfying the service levels their customers require.

Answer 1

Answer: Supply chain management

Explanation:

The supply chain management is one of the effective business strategy that helps in improve the overall efficiency of the warehouse and also the various types of facilities such as transportation.

The supply chain management is providing the flow of products and the services in an organization by transform the given raw material into the final goods.

The following are some important components of the supply chain management are as follows:

• Information
• Planning
• Production
• Inventory
• Source

According to the given question, the supply chain management is one of the concept that helps in reduce the overall production cost and but providing the high satisfaction to the customer.    

 Therefore, Supply chain management is the correct answer.