What are the five purposes of inventory?(1) ________(2) ________(3) ________(4) ________(5) ________.
What will be an ideal response?
(1) to maintain independence of operations; (2) to meet variation in product demand; (3) to allow flexibility in production scheduling; (4) to provide a safeguard for variation in raw material delivery time; (5) to take advantage of economic purchase order size
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Whereas a receiving report normally indicates that goods have been received, some organizations use an acceptance report to acknowledge formally the satisfactory completion of a service contract
Indicate whether the statement is true or false
Beginning inventory for the month contained 2,000 units that were 70 percent complete with respect to materials. During the month, 60,000 units were completed and transferred out. Ending inventory contained 3,000 units, 20 percent complete with respect to materials. The weighted average equivalent units of production for materials for the month would be
A) 62,400 B) 63,000 C) 60,600 D) 60,000
Legal macro-environmental influences incorporate:
a. Legislative constraints such as health and safety legislation b. Equal opportunity directives c. Both of the above d. None of the above
Define a learning organization and then give at least two examples defending how they meet the definition.
What will be an ideal response?