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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.

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Critically analyse the difference and the point of convergence between floor inspection and functional inspection
olasank [31]

Answer:

The overview of the give scenario is described in the explanation section below.

Explanation:

  • The distinction between Floor as well as Function Inspection was that these techniques are being used to eliminate and locate faulty materials until the identical happens in manufacturing. Quality is the key objective of both processes, where expectations are reviewed and evaluated to ensure that the operation is carried out correctly.
  • The differences between the parties would be that the system in the Floor Inspection needs to be checked the content in the process mostly on the machine rather than at the beginning of manufacture to ensure that every device or floor is functioning correctly. This would be to ensure that the industrial automation expenses will not go out and then go hand in hand as well as the fault could've been readily identified.
  • But from the other side, the Functional evaluation could have the primary purpose verified, which is something the brand is motivated to deliver. For example, an electric motor could've been verified if it has the correct performance and reliability. It doesn't inform us more about the difference throughout all sections, but somehow it provides everyone a wider understanding of both the happiness that comes from inspecting the very same item.

4 0
3 years ago
Business behavior determines the ethics of society.We can improve society's moral and ethical behavior by first making a commitm
valkas [14]

Answer: The correct answer is False.

Explanation:

Business behavior will not determine the ethics of society. Businesses can't be responsible to change the moral and ethical behaviors of a single person or an entire world. Only a person can change their own behavior. A society in whole can only be changed by each person acting upon their own free will.

If a business is not ethical, then they need to change the way they work and do business and lead by example.

7 0
3 years ago
In its most recent annual report, Appalachian Beverages reported current assets of $39,900 and a current ratio of 1.90. Assume t
iVinArrow [24]

Answer:

Appalachian Beverages

The Updated current ratio is:

= 1.65

Explanation:

a) Data and Calculations:

Current assets = $39,900

Current ratio = 1.90

Current liabilities = $21,000 ($39,900/1.90)

Current Assets:

Beginning balance = $39,900

Inventory                      $5,100

Cash                           ($2,000)

Ending balance =      $43,000

Current Liabilities:

Beginning balance = $21,000

Accounts Payable       $5,100

Ending balance =      $26,100

Analysis of Transactions:

1. Inventory $5,100 Accounts Payable $5,100

2. Delivery Truck $10,000 Cash $2,000 Two-year Note Payable $8,000

Updated current ratio = Current assets/Current liabilities

= $43,000/$26,100

= 1.65

6 0
2 years ago
Reinvesting cash flow allows a firm produce additional products and generate additional sales.
german
True I think I am not 100% sure
5 0
3 years ago
Martha is a 50% partner in the am partnership and has an outside basis of $112,000 at the end of the year prior to any distribut
poizon [28]

Answer:

0 gain ; 72,000 basis

Explanation:

Given that

Outside basis at the end of the year = $112,000

Received a proportionate operating distribution in cash for $40,000

So by considering the above information, the amount of gain or loss is zero as she does not recognized in the distribution and her basis in her partnership interest is the remaining amount i.e

= $112,000 - $40,000

= $72,000

3 0
3 years ago
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