Answer:
2. time spent due to the decision
3. actual financial cost of the decision
4. benefits from the best foregone alternative
Explanation:
Opportunity costs are those costs that provide benefits from the alternatives which are available. The better one is accepted while the worst one is rejected. The chosen alternative should be made from the available alternatives only
Decision regarding the opportunity cost would depend upon the spending time for taking the decision, decision financial cost, and the benefits which are generated from choosing the alternative
Answer:
Personalization.
Explanation:
Using personalization in customer relationship management (CRM) requires gathering a lot of information about customers’ preferences and shopping patterns, and some customers get impatient with answering long surveys about their preferences.
This ultimately implies that, personalization deals with gathering information about a specific customer's choice such as taste, requirements, product preferences, shopping styles or patterns in order to be able to serve him or her better, through the provision of goods and services that meets their needs.
Answer:
D. Commission.
Explanation:
A commission can be defined as a charge for the service provided by an agency or broker or investment advisor. Investment advisor or broker who gives advice regarding investment, or handle purchases, or sell securities for their client charge an amount of money for their service. In securities industry, when a broker or investment advisor charge a sum of money in return for their service to their clients, this charges or compensation is known as commission. An advisor who charges commission earns money by selling investment products or buying investment products on their client's behalf.
Therefore, option D is correct.
Answer:
Supply chain management is the most significant divisions in manufacturing concern meanwhile they confirm the accessibility of raw resources. A small interval in this procedure will nearly delay the entire operations. The key purpose why the operations and supply chain are transported to the lead of manager's devotion are as follows:
- To evade delay in manufacture.
- To preserve a pleasant association with the supplier.
- To sustain inventory.
- To decrease the inventory expenses.
- To permit the production development department to progress with the development process.
- To decrease finished goods inventory expenses.
Several corporations have start depending upon software’s rather than handbook records to achieve their operations and supply chain. Several software packages are accessible in the market and a whole ERP Suite will support the administration to take decisions at the correct time. These software’s will support the executives to know the prestige of inventory and additionally they will also support the administration to resolve on the raw Goods and the finished goods inventory.
The influence that the firms are facing currently are due to the improvements in their operations administration are as follows:
- Decrease raw goods inventory expenses.
- Decrease finished goods inventory expenses.
- Decrease operational expenses.
- Actual decision making.
These are some of the improvements and the influences that the firms are facing due to the current expansion in technology.