Miller, sales manager for Pacific Lumber, tells Fred, the firm's inventory manager, that the firm's failure to have adequate supplies of pressure-treated lumber on hand has cost the firm $175,000 in lost sales. This figure represents which of the following inventory management costs?
A. Carrying
B. Replenishment
C. Stockout
D. Safety stock
E. Reorder
Answer: C
You might also like to view...
Explain the formal requirements for negotiation of order paper and bearer paper.
What will be an ideal response?
Don was recently promoted, and his salary increase includes retirement investment options, so he has decided to take part in an ESOP. This means that Don
A. will be on the company's board of directors. B. will participate in an Externship Supervisors' Oversight Plan. C. will be buying or receiving shares of his company's stock. D. is now one of the company's external stakeholders. E. is in charge of an investment group.
Answer the following statements true (T) or false (F)
1. Utilitarian decision makers may reach different conclusions when faced with the same dilemma. 2. Utilitarian decision makers are only concerned with developing personal character. 3. Confucius believed “what is right for one is right for all.” 4. Rawl’s principles are designed to foster cooperation and standards within organizations and democracies.
Suppliers to business markets often
A. have to agree to contracts that allow for changes in the purchase arrangements. B. must manage inventory and delivery carefully, to provide customers with just-in-time delivery. C. serve as technical consultants to their customers. D. provide information about industry trends. E. All these answers are correct.