Answer is tough question and homework.
The purchasing professional is concerned with ensuring that his or her purchasing actions complement the strategic goals of the firm. The ordinary shopper concentrates on tactical purchases, or just purchasing what is directed to him or her. Self-development is a second factor that separates the purchasing professional. The purchasing professional is always looking for ways to further his or her career by attending training seminars, continuing post-secondary education, reading, and benchmarking the methods of world-class purchasing companies.
The usual buyer would do little more than attend mandated training provided by his or her company. Supplier ties are a third consideration. The buying professional tries to form alliances with world-class suppliers who offer competitive pricing, exceptional quality systems, on-time delivery, and customer centricity.
Therefore, the blank is to be filled by tough question and homework
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Answer:
Mobile user.
Explanation:
A mobile user can be defined as a person that has access to relevant software through mobile device such as laptops, tablets, or mobile phones. They also communicate using mobile devices like smart phones or laptop over the internet.
Edwin is using the mobile user method in doing his job. He uses his laptop and phone to communicate bwith clients and his office. The laptop is used to handle work through business related software he has installed.
Answer:
1495 filters are considered as safety stock.
Explanation:
d = 80 filters, std devd= 5, L = 14 days, std dev L= 2 days
Std dev dL = Sq rt ( Lσ d2 + d 2σ L2 ) = sq rt ( 350 + 25600) = 161 filter
z= 2.33 at 99% SL
safety stock = 2.33 X 161 = 375 filter
Reorder point = dL + Safety stock = 80 X 14 + 375 = 1495 filters
Answer:
The correct answer is option b.
Explanation:
A firm is able to maximize it's profit by producing output at the level where the marginal revenue earned from the last unit of output is equal to marginal cost incurred on it.
If a firm is operating at the point where the marginal revenue is lower than the marginal cost then the firm can maximize profit by reducing its output till the point where the marginal revenue and marginal cost are equal.
A perfectly competitive market has many buyers and sellers (option c).
<h3>What is a
perfectly competitive market ?</h3>
A perfectly competitive market is a market where there are many buyers and sellers of identical goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry. These makes buyers and sellers price takers.
An example of a perfectly competitive market is the market for tomatoes.
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