A quantity of inventory that provides protection against lost sales caused by unfulfilled demands from customers is called:
A) Just-in-time inventory.
B) Budgeted stock.
C) Continuous inventory.
D) Capital stock.
E) Safety stock.
E) Safety stock.
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Benchmarking against direct competitors creates the risk of
a. creating products or services with identical specifications. b. becoming stagnant relative to process improvements. c. being taken over by the competitors to prevent a loss of ideas. d. all of the above.
Miscellaneous foreign laws can cause difficulties for the uninformed businessperson because
A. they may violate them and be arrested, yet ignorance of the law is an acceptable defense. B. these laws may not be obvious or in accord with laws at home. C. they are aimed to take advantage of the foreigner's ignorance, a trade barrier. D. they are ambiguous enough that they can be applied to the foreigner at almost any time.
Answer the following statements true (T) or false (F)
1. The 1970s saw an increase in confrontations between management and labor due to worker dissatisfaction with repetitive and narrowly defined jobs as well as work line speedups and confrontational discipline. 2. Quality of working life programs introduced in the 1970s were largely designed to address problems with worker fatigue, boredom, and alienation that were associated with mass production. 3. Quality of working life programs were largely unsuccessful because they could not change the underlying structure of work organized around scientific management principles. 4. Total quality management programs are an example of reengineering attempts to improve the efficiency of the workplace. 5. Job control unionism and business flexibility go hand-in-hand.
The measure of the quantity of purchase dollars each customer spends on the company's products is referred to as share of
A. customer. B. wallet. C. product. D. equity. E. market.