If the daily demand is 25 and the lead time in days is 4, what is the reorder point?
A company distributes repair parts for high-end appliances. The annual demand is 81,000 and the company operates 300 days per year. The annual carrying cost is 20% of the item cost, which is $500. The ordering cost is estimated at $60 and the shortage cost is $150.
Answer: 100
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Indicate whether the statement is true or false
Felix lost his job at an investment firm because of downsizing during a period of recession. To keep himself financially stable, he opened a food truck that became a huge success. Which of the following advantages of entrepreneurship initially motivated Felix to start the food truck?
A. Survival B. Independence C. Flexibility D. Challenge
Which of the following statements is true of goals?
A. Top management's goals must be merged with those of employees, who bring their psychological, social, and economic needs with them to an organization. B. Goals identify the business an organization is involved in, the market niches it tries to serve, the types of customers it is likely to have, and the reasons for its existence. C. Goal setting is a relatively easy process. D. In contrast to visions, goals are less descriptive and more future-oriented.
Bryant, doing business as Fair Realty, employs Chris and Deborah as salespersons. Tammy contracts with Bryant to sell her house because she is aware of the good reputation of Fair Realty's salespersons. In this situation:
A) Chris and Deborah are agents of Tammy and Fair Realty but they have no authority to show Tammy's house to prospective purchasers and to make representations about the house unless Tammy expressly and explicitly grants this authority directly to them. B) Chris and Deborah are employees/agents of Fair Realty and subagents of Tammy, and they have authority to show Tammy's house to prospective purchasers and to make representations about the house. C) Bryant cannot appoint subagents because Tammy's appointment of him reflected her confidence in and reliance upon his personal skill, integrity, and other qualifications. D) Chris and Deborah are subagents of Fair Realty and, as such, have a fiduciary duty only to Fair Realty.