When the grocery store orders a large shipment of chocolate candy just before Valentine's Day, this type of inventory is typically called Anticipatory inventory.
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What is Anticipatory inventory?</h3>
- Anticipatory inventory is the stock that is continued to accord to the normal buyer interest. It is very like wellbeing stock however it contrasts as in this stock is generally kept occasionally when the interest for items can shift enormously.
- This inventory enables a company to adapt to changes in customer demand.
- It enables the company to constantly provide customer service.
- When demand fluctuates, it enables the company to grow its operations.
- This inventory type may resemble safety stock quite a bit. It varies from safety stock, though, in that it is kept on hand by the business to handle demand swings. This change reflects the anticipation of rising demand in the near future.
- If a scarcity or price increase is anticipated soon, businesses might store more inventory.
Hence, this kind of inventory is frequently referred to as anticipatory inventory, such as when the grocery store orders a huge supply of chocolate candies right before Valentine's Day.
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Answer:
A 7.5% increase in the quantity demanded
Explanation:
If the price elasticity of demand (PED) is 0.75, that means that for every 1% change in the price of a product, the quantity demanded for the product will inversely change by 0.75%. If the price increases, the quantity demanded decreases, and vice versa.
If Sony lowers the price of its TVs by 10%, and the PED = 0.75, then the quantity demanded will increase by = 10% x 0.75 = 7.5%
Its capacity to perform the functions you or a person want it to
Answer:
55,060 machines
Explanation:
Projected sales = 54,500
Estimated opening balance = 6,860
Desired ending balance = 7,420
Budgeted production = ?
Let the budgeted production be B
Using the formula
Opening balance + Budgeted production - Sales = Closing balance
6,860 + B - 54,500 = 7,420
B = 7,420 + 54,500 - 6,860
B = 55,060
The budgeted production for the year is 55,060 machines.
