One of the ways to determine the financial situation of a business is by crafting a business plan.
Answer the following statement true (T) or false (F)
True
The way to determine the financial situation of a business is through crafting a business plan. Having a business plan helps the owner work out all the major details of the business and how he or she plans to organize it as he or she is growing it.
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Which one of the following is an operating activity of a business?
a. Paying for purchases of inventory b. Issuing stock for cash c. Borrowing money from a bank d. Purchasing a manufacturing plant
Answer the following statements true (T) or false (F)
1. Customize-to-stock (CTS) is a type of customization occurring within manufacturing supply chains. 2. Engineer-to-order manufacturing offers the highest degree of product customization. 3. Pull conflict is the term used to describe the interface between push and pull systems. 4. Pull systems are intended to satisfy the demands of customers. 5. The volume of WIP is higher in an ATO process supply chain compared to MTO.
Loyal customers
a. are always more profitable than transient or transaction-oriented customers. b. should be retained at all costs. c. may cost more to serve than transaction-oriented customers. d. have a cost to acquire that exceeds the cost to retain. e. rarely increase their purchases from the selling company over time.
Consider a work center with a demand rate of 20 parts per hour and using a container that can hold 5 parts. It is estimated that the container takes 30 minutes to cycle through the work cell. Assume a safety stock level of 10 percent. What is the maximum inventory level for this system?
a. 5 b. 10 c. 15 d. Cannot be determined from the information given