If a contract for the sale of goods is F.O.B. Minneapolis and the seller is in Minneapolis and the
buyer is in Chicago, the contract is a shipment contract.
Indicate whether the statement is true or false
TRUE
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Why might measuring service quality be more difficult than measuring product quality?
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Which of the following statements about a vertical marketing system (VMS) is true?
A) A VMS is a channel in which there is cooperation among channel members at two or more different levels of the channel. B) Members of a VMS operate totally independently of one another outside of buying and selling one another's products. C) The three types of vertical marketing systems are independent, conventional, and customized. D) Channel conflict is a more serious problem in a vertical marketing system than in a conventional marketing system. E) Conventional marketing systems are more efficient than vertical marketing systems.
Companies that operate in a lean production and just-in-time manufacturing environment are more likely to experience which of the following?
A) Reduced manufacturing flexibility. B) Increased levels of raw materials inventory. C) Increased production time. D) Increased product quality.
The data below represent time study observations for an assembly operation. Assume a 7% allowance factor. What is the normal time for element 3?
Observations (times in minutes) Element Performance Rating 1 2 3 4 5 1 100% 1.5 1.6 1.4 1.5 1. 5 2 90% 2.3 2.2 2.1 2.2 2.4 3 115% 1.7 1.9 1.9 1.4 1.6 4 100% 3.5 3.6 3.6 3.6 3.2 A) 1.7 min. B) 1.96 min. C) 2.11 min. D) 10.1 min. E) 11.2 min.