The correct option is (b) process.
When developing a logistics strategy, a <u>process</u> strategy refers to the management of logistics activities with a focus on costs.
<h3>What is process strategy?</h3>
The establishment and recording of the procedures that a company uses to accomplish its objectives is known as process strategy. A number of processes could be automated, eliminating the need for last-minute judgment calls, management referrals, and in certain situations human involvement altogether.
The four process strategies are mass customization, repetition focus, process focus, and product focus. Process emphasis is about specialization, whereas product focus is about mass output.
<h3>How do you create a process strategy?</h3>
Steps in the strategic planning process
- Choose your strategic stance. The basis for all subsequent work is laid during this preparation stage.
- Set goals in order of importance.
- Create a plan.
- Manage and carry out the plan.
- Examine and update the plan.
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The complete question is:
“When developing logistics strategy, a ____ strategy refers to the management of logistics activities with a focus on costs.
a. market
b. process
c. command and control
d. information”
Answer:
The company should make the components because incremental costs are $2 less than the purchase price
Explanation:
The cost of making each unit of component = Direct Labour + Direct Material + Variable Overhead*
*The overhead cost of $4 contains both a fixed and variable element. It has been mentioned that 25% of overhead cost is incremental i.e. it increases with each additional unit produced (marginal cost). The incremental cost is the variable element.
Variable element = $4 x 25% = $1
Fixed element = $4 x 75% = $3
Thus, the cost of making each unit of component = $5 + $2 + $1 = $8,
whereas the cost of purchasing each unit of complement is $10. Hence, the company should produce the component as it is less by $2 ($10 - $8) to produce than it is to purchase.
Answer:
C. progress reports
Explanation:
A progress report is a document which prepared and maintained so as to track the progress of the project in a course of time.
The progress report contains the outlines of the activities that has been carried out and how much the tasks has been completed.
It also records the milestones that has been achieved according to the project plan.
The project report can be prepared daily, weekly or in a specific interval of time according to the scale of the project.
