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
fomenos
3 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]3 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.

You might be interested in
In microeconomics, what term refers to the measurement of responsiveness of the quantity demanded or the quantity supplied to a
Bess [88]
Hello!
The answer to your question is "price elasticity".
:)
5 0
3 years ago
(Look at picture above) Please help!!!!
fgiga [73]

Answer:

I think ot is fruit punch

4 0
3 years ago
In a economy, the government owns the means of production.
Daniel [21]

Answer:

(a) Command

Explanation:

A command economy is also known as planned economy and it can be defined as a type of economy in which the government owns and control the means of production.

This ultimately implies that, in a command economy, the government owns the means of production.

Societies that operate a command economy generally practices communism.

Communism is a system of philosophical, political, social organization and economical ideologies that advocates the elimination of private property but a profit-based economy with public ownership of the means of production.

It ultimately aims to ensure each person contributes and receives according to their abilities and needs.

Vietnam, China and Cuba are examples of communist countries that operate a command economy.

In conclusion, a command economy requires that the method of exchange, distribution, as well as the means of production of goods and services and allocation of resources for production should be controlled or regulated by the public (government) rather than the private sector.

5 0
3 years ago
The epa is planning to stiffen the requirements for cleaning pollutants from the stacks of? coal-fired electricity generating? p
IgorLugansk [536]
<span>With respect to organizational change, this would also represent a change in the type of waste machines that are used in the Industry. Since the EPA is targeting a 30% reduction of waste generated by coal-fired powerplants, the manufacturing industries are now required to adapt the new method that is  establish to minimize carbon footprint.</span>
8 0
3 years ago
Inflation is a general rise in the level of prices experienced by people in a nation.
vladimir2022 [97]

Answer:

True.

Explanation:

Inflation is an economic term that can be defined as the increase in the prices of a product on the market in a given period.

It can occur due to several factors, when there is an imbalance between supply and demand, then it is correct to say that when the demand for a product is greater than the supply, there will be an increase in prices and, consequently, inflation.

It can also occur when there are situations of monopoly, which is the pricing of a product controlled by a company.

Another factor that causes inflation is the increase in a company's production costs, which can be caused by factors such as scarcity, or economic crisis.

Uncontrolled inflation has a negative impact on the consumer's life, which starts to lose its purchasing capacity and has its quality of life reduced.

4 0
3 years ago
Other questions:
  • Northern Company has bonds with an amortized cost of $600,000. At the end of the first reporting period, the bonds had a fair va
    12·1 answer
  • The rising popularity of bubble and squeak as a breakfast item on the menu has resulted in a steady demand for peas. Over the co
    12·1 answer
  • The first step in developing a knowledge management system is to:
    14·1 answer
  • Brian has just finished college. He wants to set up a small business to make and sell fireworks. He registers his company and ac
    15·2 answers
  • What is pure competition?a. A theoretical market structure with very large numbers and identical products.b. A theoretical marke
    8·2 answers
  • Answer this please please
    7·1 answer
  • Kevin is the human resource manager for a large company. he actually has a favorable attitude toward the handicapped in general.
    5·1 answer
  • You are considering investing in a European bank account that pays a nominal annual rate of 18%, compounded monthly.
    11·1 answer
  • You recently purchased a stock that is expected to earn 12.6 percent in a booming economy, 8.9 percent in a normal economy and l
    12·1 answer
  • TRUE OR FALSE<br> Democratic leaders encourage participation in decision making
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!