Why is it important for a supervisor to pay attention to inventories? What might result if inventories are too small or too large?
What will be an ideal response?
Inventories must be maintained to balance the cost of maintaining inventories against the cost of running out of inventory. Excessive inventory, can tie up unnecessary costs. This can also lead to increased insurance, and the potential for obsolescence costs. Not having enough products can be an advantage for your competitor. To make money you need the goods to be available to your customers.
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Information research process:
a. helps understand the value of the research compared to the cost. b. gathers and synthesizes background information to familiarize the researcher with the overall complexity of the problem. c. is a systematic approach to collecting, analyzing, interpreting, and transforming data into decision-making information. d. specifies whether data should be collected about individuals, households, organizations, departments, geographical areas, or some combination. e. serves as a written contract between the decision maker and the researcher.
A ________ organization is a small, core organization that outsources major business functions
A) centralized B) virtual C) bureaucratic D) matrix E) simple