A self-service checkout stand at a grocery store is an example of?
a. Continuous improvement
b. Service blueprinting
c. Process automation
d. Customer flow mapping
c. Process automation
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When inventory is sold by a wholesaler or retailer, it is recorded in a different account on the income statement than a manufacturer would use
a. True b. False Indicate whether the statement is true or false
The new office supply discounter, Paper Clips, Etc. (PCE), sells a certain type of ergonomically correct office chair that costs $300
The annual holding cost rate is 40% of the item cost, annual demand is 900 units, and the ordering cost is $20 per order. The lead time is 4 days. Because demand is variable (standard deviation of daily demand is 2.4 chairs), PCE has decided to establish a customer service level of 90%. The store is open 300 days per year. (a) What is the optimal order quantity? (b) What is the safety stock? (c) What is the reorder point?
Many different laws may apply to a single business transaction
a. True b. False Indicate whether the statement is true or false
Sal borrowed $2,000 from his friend, Steve. Sal signed a promissory note agreeing to repay the $2,000 in 12 equal monthly installments beginning the next month. After making the first payment, Sal made no further payments. After repeated efforts to collect the money, Steve sent Sal a letter threatening to sue him for breach of contract if the loan was not repaid. Steve's letter:
a. is legally permissible. b. constitutes duress. c. constitutes undue influence. d. constitutes fraud since he probably will not sue Sal anyway.