Answer:
Marketing drives a consumer economy, promoting goods and services and targeting consumers most likely to become buyers. Higher sales for a business that employs successful marketing strategies translate into expansion, job creation, higher tax revenue for governments and, eventually, overall economic growth.
Answer:
B. the decisions around which stages of production to handle internally and which to buy from others.
Explanation:
Supply chain management is fundamentally concerning with the management of a firm's reception of inputs in order to produce output, and with a firm's delivery of those outputs to the final customer.
For example, some firms can have the capability to supply their own raw materials internally, transform them into a finished product, and send the products to the customer.
Other firms have more complicated supply chains: they may buy the raw materials, produce a part of the good in a place, another part in another place, and hire another company to make the deliveries.
Answer:
TRUE
Explanation:
We currently live in a globalized world. Globalization is an economic and political phenomenon that has transformed the relations of production and labor. The companies started to produce in countries where the labor is cheaper, becoming consequently more competitive. Thus, US multinational companies outsource the manufacture of components of their products in different territories. For example, an Iphone has components made in China, Vietnam and others. This makes the final price of the iphone lower around the world.
Answer:
a) 32 refrigerators
b) 28.39 approximately 29 refrigerators
Explanation:
Given:
Cost of order, S = $100
H = 20% of 500 = 100
Cost of refrigerator = $500
Annual demand, D = 500
S.d = 10
Lead time, L = 7 days.
a) To find the economic order quantity, Q_opt, let's use the formula:
The economic order quantity is 32 refrigerators.
b) The reorder point, R, is calculated as:
R = (d' * L) + ( z * s.d)
Where d' is daily demand which is calculated by dividing annual demand by 365 days.
d' = 500/365 = 1.37
At 97% service probability.
Using the excel function, NORMSINV(0.97) = 1.88.
Therefore z = 1.88
Solving for R, we have:
R = (1.37 * 7) + (1.88 * 10)
= 28.39
≈ 29
If the distributor wants a 97% service probability, the reorder point, R, should be 29 refrigerators
