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.
Answer: $80
Explanation:
The opportunity cost is regarded as the real cost of the alternative that was left or forgone.
Based on the information given in the question, the opportunity cost is the free ticket to a Post Malone concert that is worth $80 which was given to me by my friend.
Therefore, the correct option is E.
Answer: Please refer to Explanation
Explanation:
1. More customers are indeed purchasing online in this ever developing technological scene in this 21st century. One just has to look at the value of Amazon with it's over a trillion dollars market Capitalization. They have cornered the online scene and are reaping the benefits.
Things are looking quite bleak for offline retailers because these online stores offer one great thing, Convenience. Along with that they offer things like discounts and free delivery.
To reverse the trend that online stores have, offline retailers need to MATCH the SERVICES they OFFER as well as CAPITALIZE on the services they DON'T OFFER.
For instance, online stores do not have that personal touch of a sales person guiding them and explaining the perks of a product. In essence, retailers should work on their CUSTOMER SERVICE. They should treat customers in such a way that the customers would always want their assistance when buying things and would not mind coming all the way to the store to buy it. This is one way to hit them in places they don't offer services in.
Then you can also hit them in areas they rule. Such as opening a small website and marketing your goods. The world is moving online and to avoid it is death. Make a small website that has your products and offer delivery services coupled with telemarketing to explain anything needed.
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2. Brick and Mortar stores are still very important even in this day and age. With Brick and Mortar stores things like trust are easier to establish. This is because when you come to buy your goods you can touch them, you can see and smell them, you KNOW what you ARE BUYING. With online sites you can sometimes buy something and another thing arrives and returning it can be a hassle. With Brick and Mortar stores you can buy knowing that you bought what you saw you wanted and even if you want to return it you can.
Brick and Mortar stores also provide an actual SHOPPING EXPERIENCE because when you're in them you're surrounded by goods not just staring at a screen. You can also socialise with people here and build valuable relationships.
Brick and Mortar stores are still very much important.
Acoording to the information provided above, I'm definitely sure that M<span>aria’s management perspective is best described as </span>contemporary. Her strategy is called quality control.
<span>IT ALLOWS FOR PERSONALIZATION OF THE MESSAGE. The use of mass media advertising is attempting to reach out to everybody in the hopes that some people will be interested enough to reply to the offer or pursue additional information. There may only be one person out of a thousand that actually respond or follow up for additional information. On the other hand, direct marketing uses a specific customer base to market to thus allowing for a better connection to that person and in turn, increasing the chance that the person they are attempting to reach will actually follow up for additional information or buy whatever product is being pushed. Databases of a person's interests are created and a person's interests are what drives the marketing to that population. For example, it would be more effective to send out a debt consolidation program insert to somebody that they know has a lot of debt rather than appealing to the masses with the hopes that something sticks.</span>
