Question: Buy-Back Contract is an operations management tool in which a manufacturer specifies a ................................................. price and a ............................................ price at which the retailer can return

Buy-Back Contract is an operations management tool in which a manufacturer specifies a ................................................. price and a ............................................ price at which the retailer can return any unsold items at the end of the season.

The buy-back contract results in an increase in the salvage value for the retailer, which induces the retailer to order a larger quantity.

The manufacturer is willing to take on some of the cost of overstocking, because: ......................................................................................................................................

and ......................................................................................................................................

please fill in the 4 blanks.

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