-avoid mistakes/disasters (lack of teamwork, pricing, etc)
-setting objectives
-helps with development and growth
-create marketing strategy
Answer:
D. $6800
Explanation:
Annual demand = 600 × 50 weeks = 30,000 bottles
Carrying cost or holding cost = $50 × 40% = $20
The economic order quantity = 500 bottles
The number of orders would be equal to
= Annual demand ÷ economic order quantity
= 30,000 ÷ 500
= 60 orders
The average inventory would equal to
= Economic order quantity ÷ 2
= 500 bottles ÷ 2
= 250 bottles
The total cost of ordering cost and carrying cost equals to
Ordering cost = Number of orders × ordering cost per order
= 60 orders × $30
= $1,800
Carrying cost = average inventory × carrying cost per unit
= 250 bottles × $20
= $5,000
So, the total would be
= $5,000 + $1,800
= $6,800
Answer:
Nominal Approach
Explanation:
The approach which is followed by manager is the Nominal approach or technique, it is that technique which involves the group process comprise of solution generation, decision making and problem identification.
It can be used many sizes of the group, who want to take a decision as by vote, rank but include everyone opinions. Therefore, in situation, this approach is used.
<span>European Union.Council of Europe.<span>Organisation of American States (OAS)</span></span>
