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fomenos
2 years ago
6

George manages inventory for a company. The company has been struggling to reduce production costs in all departments for severa

l months. What inventory management technique can George adopt to reduce storage costs without affecting the production flow?
Business
1 answer:
Liula [17]2 years ago
7 0

Answer:

The Just-in-time( JIT) inventory management

Explanation:

The Just-in-time( JIT) inventory management approach seeks to increase efficiency in the stock management process. JIT achieves efficiency by reducing the cost of holding stocks and eliminating wastage associated with keeping a high volume of inventory.  Under JIT, materials are ordered when they are required for production. The business does hold stocks or will have minimal quantities in the stores.

George can adopt the just-in-time system in his place of work. His cost of holding stock will reduce as materials will be purchased to meet the current production requirements.  Market demand  determine production. It means there will be no storage of a high volume of finished goods, which ties up a lot of capital.

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How do banks create money?
Dafna11 [192]

Answer:

Commercial banks, required reserve, loans, deposits, create.

Explanation:

The main function of commercial banks is to accept deposits and then to lend the same money (minus required reserves) back out. Banks make a profit by charging a higher interest rate on loans than the interest rate they pay on deposits. Through the loan process, banks are actually able to create money.

The major function of commercial banks is

1. Accepting deposits from people and business organzations.

2. Giving loans to Customers to be paid at a specific period of time at an agreed interest rate.

Required reserve is the minimum amount of money which in required for a commercial Bank to hold/save out of every deposit. If the required reserve is 10% of every deposit, a customer customer deposited $100. The required will be $10 which the bank will hold. The remaining $90 is the balance which banks can loan out to Customers.

Commercial Banks make profit by charging a higher interest rate on loan and lower interest rate on deposits. For example: 7.5% interest rate on loan and 2.5% interest rate on deposits. The 5% difference is the bank Profit.

5 0
3 years ago
One key role of marketing is ______
andre [41]

Answer:

3. Looking outward by listening to customers

Explanation:

This particular role assist in retaining customers by creating new opportunities to win customer loyalty and business.

8 0
3 years ago
MC Qu. 151 Using the information below for... Using the information below for Sundar Company; determine the total manufacturing
Sphinxa [80]

Answer:

Manufacturing Cost = 94,100

Explanation:

Given that,

Direct materials used = $ 20,500

Direct labor used = 26,000

Factory overhead = 47,600

Beginning work in process = 12,200

Ending work in process = 12,800

Manufacturing Cost = Direct Material + Direct Labor + Factory Overhead

Manufacturing Cost = $20,500 + 26,000 + 47,600

Manufacturing Cost = 94,100

5 0
3 years ago
Most financial advisors say you'll need about 70 percent of your pre-retirement earnings to comfortably maintain your pre-retire
brilliants [131]

Answer:

False

Explanation:

8 0
3 years ago
Read 2 more answers
Assume the total cost of a college education will be $184,061 when your child enters college in 19 years. You presently have $49
Leni [432]

Answer:

Interest rate = 0.9313

Explanation:

Future value or the cost of edcuation after 19 years = $184061

Present value, money in hand at present = $49327

Time period, n = 19

Future value = Present value (1 + r)²

184061 = 49327 (1 + r )²

(1 + r )² = 184061 ÷ 49327

(1 + r )² = 3.73

(1 + r) = √3.73

(1 + r) = 1.9313

r = 1.9313 - 1

r = 0.9313

Or Interest rate = 0.9313

4 0
3 years ago
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