Answer:
Just-in-time
Explanation:
Just-in-time inventory system advocates minimal holding of raw materials in the stores. In this system, materials are ordered when they are required for production. The just-in-time (JIT) approach aligns customers requests with the production process.
JIT system is a cost-effective approach. It reduces wastage that results from holding huge volumes of inventory. The managers operating a JIT system must be able to forecast accurately to avoid stock outs. The order management systems should be fast and reliable for the JIT to be successful.
Answer:
a. How much time would it take the two to complete the project if they divide the calculations equally and the slides equally? Briefly discuss.
Brian: 5 hours for PowerPoint and 5 hours for the calculations, total 10 hours.
Debbie: 10 hours for PowerPoint and 6 hours for the calculations, total 16 hours.
In total they would spend 26 hours combined.
If they divide the work equally, they will spend too much time.
b. How much time would it take the two to complete the project if they use comparative advantage and specialize in calculating or preparing slides? Briefly discuss
Brian will spend 10 hours doing PowerPoint slides and Debbie will spend 12 hours doping calculations. Total time spent 22 hours. By specializing they will save 4 hours.
c. If Brian and Debbie have the same opportunity cost of $5 per hour, is there a better solution than for each to specialize in calculating or preparing slides? Briefly discuss
Yes, Debbie could pay $50 to Brian so that he does everything in 20 hours. That way they can save 2 more hours.
Answer:
Explanation:
toss out the dogs :
As per the boston consulting Group Dog is the product that have small portion of the market share and does not have any growth in the market but they give positive cash flows. investment money in these products is useless the decision that should be made whether to withdraw from the market or enjoy cash flows for further more time. in this situation the manager is directing the representatives to divest the investment from Dog product.
exploit the stars:
Stars are the products that have large market share and high growth in the market management has to make more investment in these products to make more competitive position in the market and be the market leader. Star products are the future cash cows, manager is directing his team to to exploit more means invest more in star products.
milk the cows
Cash Cows are the products that have huge market share in the market and the product is market leading and it has reached at maturity phase its life cycle,there is no further growth in the market.milk the cows means cash generated from the cash cows should be reinvested to star products in order to strengthen their position in the market.
Answer:
The answer is: necessity versus a luxury in determining the price elasticity of demand
Explanation:
The price elasticity of demand measures the change in the quantity demanded of a product in relation to a change in its price.
The formula for determining the price elasticity of demand (PED) is:
PED = % of the change in Quantity Demanded / % of the change in price
Usually goods or services considered luxurious (e.g. gourmet cheese), tend to be very elastic (high PED). While products considered basic necessities (e.g. gasoline, or Diet Coke in Jane´s case) tend to be very inelastic (low PED).
For example, if the price of gourmet cheese (luxury product) rises 10% and the quantity demanded drops 25%, we can say gourmet cheese is a very elastic product (PED = 2.5)
Instead, if the price of gasoline rises 10% and the quantity demanded only drops 1%, we can say gasoline is very inelastic (PED = 0.1).
