Author Question: Discuss the differences between the terms metric, measure, and index.[br][br][b][color=gray]Question ... (Read 53 times)

Destiiny22 · **on:** Jun 28, 2018

Discuss the differences between the terms metric, measure, and index.

Question 2

Many of the measures during the pre-purchase phase fall into the broad category of
a. SEO.
b. consumer education.
c. promotion.
d. consumer activities.

jgranad15 · **Reply #1 on:** Jun 28, 2018

Answer to Question 1

Traditionally, the term measure was used to denote any quantitative output of an activity or process. Today, the term metric is being used more often in place of the term measure. A measure is easily defined with no calculations and with simple dimensions. Logistics examples would include units of inventory and backorder dollars. A metric is more complex to define and usually involves a calculation or a combination of measurements, often in the form of a ratio. Logistics examples would include inventory future days of supply, inventory turns, and sales dollars per stock-keeping unit. An index combines two or more metrics into a single indicator. Usually an index is used to track trends in the output of a process. A logistics example of an index is the perfect order.

Answer to Question 2

a