What are the supply chain implications of the lean system emphasis on close supplier ties?

What will be an ideal response?

Close supplier ties lead to partnerships with a relatively few number of suppliers in close geographic locations. It helps firms get frequent supplier shipments, have short lead time, on-time scheduled arrival of goods of high quality, with deliveries as often as several times per day. Close cooperation leads to better inventory planning and scheduled deliveries that improve both customer and supplier profit margins. Sometimes, a JIT II system is used with the supplier having a representative in the customer's plant, and this representative is then empowered to plan and schedule the replenishment of materials from the supplier.

Business

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Journalize the following transaction for a merchandiser that uses the perpetual inventory system

Sold goods for cash, $1,200 (cost $750 ). What will be an ideal response

Business

In terms of personality, an extrovert is likely to display each of the following characteristics within the buying center, except:

A) spends more time talking within the buying center B) becomes more involved in the buying process C) will not ask important questions D) will not listen to others in the group

Business