Briefly, explain why understanding the end customer is important to all supply chain parties in developing an effective performance measurement system
By being able to identify the needs of the end customer the supply chain is able to reconcile trade-offs between cost, quality, quantity, and service requirements.
Those in charge of developing and maintaining the supply chain will be better able to choose and manage partnering organizations such that the supply chain will be equipped to serve the needs of the customer.
Also, the supply chain is able to address deficiencies. This may require adding additional capacity or investing in new equipment, technology, and/or higher quality materials and components.
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A company that uses the perpetual inventory system sold goods to a customer for cash for $4,600. The cost of the goods sold was $1,000. Which of the following journal entries correctly records this transaction?
In a process cost system, the amount of work in process inventory is valued by:
A) finding the sum of all open job costs B) allocating departmental costs between completed and partially completed units C) multiplying units in ending inventory by the direct materials cost per unit D) all of the above
A _________ group refers to a group that has specifically been selected and recognized within the organization
a. Informal b. In-group c. Formal d. Out-group
Capital rationing is the situation in which a firm can raise only a specified, limited amount of capital regardless of how many good projects it has.
Answer the following statement true (T) or false (F)