average transit time is 10 days. Another carrier promises to deliver in 7 days. What is the reduction in transit inventory? I = tA=(10 – 7 ) 2‚500‚000=$7‚500‚000=$20‚547.90 365365 365 9.4) A florist carries an average inventory of $12‚000 in cut flowers. The flowers require special storage and are highly perishable. The florist’s estimates capital costs at 10%‚ storage costs at 25%‚ and risk costs 50%. What is the annual carrying cost? 10%+25%+50%=85%X$12‚000 =$10‚200 9.6) An importer
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Answer: A vision is an over-riding idea of what the organization should be. Often it reflects the dream of the founder or leader. Your company’s vision could be‚ for example‚ to be “the largest retailer of automobiles in the US”‚ “the maker of the finest chocolate candies in London”‚ or “the management consultant of choice for non-profit organizations in the Southwest.” A vision must be sufficiently clear and concise that everyone in the organization understands it and can buy into it with passion
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Chapter 3 Exercise / Problems: #1 p. 113 1. [Business Organization and Intellectual Property] Phil Young‚ founder of the Pedal Pushers Company‚ has developed several prototypes of a pedal replacement for children’s bicycles. The Pedal Pusher will replace existing bicycle pedals with an easy-release stirrup to help smaller children hold their feet on the pedals. The Pedal Pusher will glow in the dark and will provide a musical sound as the bicycle is pedaled. Phil plans to purchase materials for
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Chapter 1 Software plays an essential role in utilizing a computer or a computerized device. It delivers different tasks as well as allows you to use‚ share and maintain the resources. As a product‚ it delivers the computing potential embodied by computer hardware. Software is an information transformer like producing‚ managing‚ modifying‚ acquiring‚ or transmitting information when it resides within a cellular phone or operates inside a computer like mainframe computer. Software acts as a basis
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What is operations management? Operations management is an area of management concerned with overseeing‚ designing‚ and controlling the process of production and redesigning business operations in the production of goods and/or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed‚ and effective in terms of meeting customer requirements. It is concerned with managing the process that converts inputs (in the forms
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entities: in particular‚ they should not share state with other filters. Another important invariant is that filters do not know the identity of their upstream and downstream filters. Their specifications might restrict what appears on the input pipes or make guarantees about what appears on the output pipes‚ but they may not identify the components at the ends of those pipes. Furthermore‚ the correctness of the output of a pipe and filter network should not depend on the order in which the filters
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Issues—The Software Crisis 1. Introduction to Chapter The term "software crisis" has been used since the late 1960s to describe those recurring system development problems in which software development problems cause the entire system to be late‚ over budget‚ not responsive to the user and/or customer requirements‚ and difficult to use‚ maintain‚ and enhance. The late Dr. Winston Royce‚ in his paper Current Problems [1]‚ emphasized this situation when he said in 1991: The construction of new software that
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INFORMATION TECHNOLOGY AND LOGISTICAL MANAGEMENT Table of Contents Introduction 3 The Business Problem 4 Information Technology and Business 6 Reducing Times 8 Conclusion 9 Introduction Throughout the years‚ communication has been a very important part in the development of the United States. Without proper communication‚ the United States would most likely not be the first world potency
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To what extent was Germany responsible for the tension between the European powers (1900-1913)? Tension was rife between the main powers within Europe and their hold over their empires and states. Many of the alliances of the time created enemies‚ generating huge tensions‚ with Germany often feeling isolated and betrayed. Germany gravely feared an encirclement and attack upon her borders; it was evident that war was going to break out‚ it was just a matter of when and how‚ leaving many tactics
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per kilogram). The other variable costs (costs of packing) are € 0.02 per meat roll. All produced meat rolls will be sold instantly: There is no inventory/stock of meat rolls. The budgeted indirect fixed costs are distributed as follows: Costs management | € 200‚000 | | Costs administration | € 150‚000 | | Costs production installation | € 150‚000 | | Costs production staff | € 700‚000 | | Costs sales department | € 200‚000 | | Total budgeted fixed indirect costs | | € 1‚400‚000
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