Describe how accurate forecasting can benefit a firm. Provide several hypothetical benefits that a coffee shop might experience by improving its demand forecasting.
What will be an ideal response?
A successful answer will list several of the benefits of better forecasting listed in the textbook or from external references. In the context of a coffee shop, benefits might include better managed inventory levels and reduced costs.
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Which of the following cannot be used as the current cost in dollar-value LIFO calculations?
A) the cost of the first acquisitions in a year B) the cost of the last acquisitions in a year C) the cost of the acquisitions in the middle of a year D) the average cost of all acquisitions in a year
Which of the following statements is true regarding leaders and information management.
A. Leaders should always share information with followers as soon as they have it. B. Leaders should keep information to themselves. C. Leaders should deny having information even if they have it. D. Leaders tend to have more access to information than followers.
A production cost is classified as an overhead cost if it is not directly traceable to an end product or a cost object
Indicate whether the statement is true or false
Which of the following is true with regard to the inside sales force of a company?
A) The inside sales force is invariably more attentive to customer needs than the outside sales force. B) Unlike the outside sales force, the inside sales force does not require training. C) Inside sales representatives engage in face-to-face interaction with customers. D) The inside sales force is far more knowledgeable about customer habits than are outside salespeople. E) Inside salespeople provide support for the outside sales force, freeing them to spend more time selling to major accounts and finding new prospects.