1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
inn [45]
2 years ago
11

TimTam Steel, a steel manufacturing company, recently adopted a new supply chain management system. By virtue of the new system,

the company is able to acquire raw materials from suppliers in a shorter period of time than its competitors. The supply chain management system may become outdated in the near future; however, it has presently drastically reduced costs associated with material procurement for TimTam Steel. In the given scenario, TimTam Steel has achieved _____.
Business
1 answer:
katen-ka-za [31]2 years ago
4 0

Answer:

<u>First mover advantage</u>

Explanation:

First mover advantage refers to the process wherein a company gains competitive advantage over it's competitors due to being the first in an industry for coming up with a product or service or being the first one to employ a certain management system or technique.

A first mover gains advantage since by the time other market participants enter the arena, such a firm has already reaped bulk of the advantage.

In the given case, the steel manufacturing company adopted a new supply chain management system courtesy of which it is able to reduce the procurement time of raw materials considerably thereby leading to efficient production. It has also lead to reduction of costs and thus, has increased profitability.

This represents a case of first mover advantage achieved by the company owing to which it has gained a competitive advantage currently.

You might be interested in
A company sells two products with information as follows: ​ A B Sales price per unit $12 $22 Variable cost per unit $10 $10The p
Tanya [424]

Answer:

Option (c) : $80,000

Explanation:

As per the data given in the question,

                                         A        B

Sales price                      $12     $22

Less: Variable cost         $10     $10

Contribution per unit      $2      $10

Time required in hours  0.25    0.50

Contribution per hour     $8      $20

Rank                                 2          1

Company should produce only product B to maximize the contribution.

Total contribution = $20 × 4,000

= $80,000

5 0
3 years ago
Problem 5-35 Comparing Cash Flow Streams [LO 1] You’ve just joined the investment banking firm of Dewey, Cheatum, and Howe. They
Minchanka [31]

Answer:

PV of 1st option = $185,015.50

PV of 2nd option = $192,683.78

Explanation:

Computing the present value of the monthly payments, we use the formula PV = \frac{A(1-(1+r)^{-n}) }{r}

Where PV = present value of the monthly payments

A = monthly salary

r = monthly interest rate = 6%/12 = 0.5% = 0.005

n = number of months = 24 months

PV of the 1st option, $8,200 monthly for the next 2 year

PV = \frac{8,200(1-(1.005)^{-24}) }{0.005} = $185,015.50.

PV of the 2ns option, $6,900 monthly + $37,000 signing bonus

PV = \frac{6,900(1-(1.005)^{-24}) }{0.005}+37,000 = $155,683.78 + $37,000 = $192,683.78.

7 0
3 years ago
A manager is trying to decide whether to purchase a certain part or to have it produced internally. Internal production could us
Sergio [31]

Answer:

For both 10,000 units and 20,000 units, the best alternative is Vendor B

Explanation:

Using the information provided in the question, we can write the following:

Annual Volume of 10,000 units

Internal Alternative 1

Variable costs = 170,000 (we multiply the variable cost per unit by total units)

Fixed costs = 20,000

Total costs = 370,000

Internal Alternative 2

Variable costs = 140,000

Fixed costs = 240,000

Total costs = 380,000

Vendor A

Total cost = 200,000 (we simply multiply the price by the quantity)

Vendor B

Total cost = 180,000

Vendor C

Total cost = 190,000

The cheapest option is Vendor B

Now for the 20,000 units:

Internal Alternative 1

Variable costs = 340,000

Fixed costs = 200,000

Total costs = 540,000

Internal Alternative 2

Variable costs = 280,000

Fixed costs = 240,000

Total costs = 520,000

Vendor A

Total cost = 400,000

Vendor B

Total cost = 360,000

Vendor C

Total cost = 380,000

Therefore, Vendor B is once again, the cheapest alternative.

5 0
3 years ago
Which of the following best describes civil procedure?
jeyben [28]

Answer:

The correct answer is D

Explanation:

Civil procedure is the body of law which sets or lay down the standards and the rules that the court follow when adjudicating or examine the civil lawsuits.

The rules are govern on how a case or a lawsuit is commenced, kind of pleadings, orders allowed in civil cases. So, it best stated with the process issued in the civil lawsuit.

5 0
3 years ago
Choose an example of a company you could start, and decide which business structure would make the most sense for that type of c
PolarNik [594]

Answer:

nonprofit corporation - literally anything involving donations - your welcome

Explanation:

6 0
2 years ago
Other questions:
  • Brief Exercise 5-3 Flint Company buys merchandise on account from Windsor, Inc.. The selling price of the goods is $1,050, and t
    14·1 answer
  • Segmentation and targeting influence a company’s resource allocation, potentially affecting strategic decisions in all of the fo
    11·1 answer
  • In the following situation, imagine you are a waiter at a restaurant. See if you can put this list of tasks in
    8·1 answer
  • Which of the following statements about the free market is correct?
    14·1 answer
  • a. Computer stocks currently provide an expected rate of return of 16%. MBI, a large computer company, will pay a year-end divid
    6·1 answer
  • The operations of Winston Corporation are divided into the Blink Division and the Blur Division. Projections for the next year a
    15·1 answer
  • Twilight Company uses the aging of accounts receivable method to estimate Bad Debt Expense. The balance of each account receivab
    8·1 answer
  • What is an advertising allowance
    6·1 answer
  • Flick Company uses a standard cost system in which manufacturing overhead is applied to units of product on the basis of standar
    6·1 answer
  • Mars is an 18-billion dollar privately owned business; Hershey is only a 9 billion dollar publicly owned business. How could Her
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!