Answer:
Gross income = $55,200
Adjusted gross income = $52,000
Taxable income = $43,880
Explanation:
Given:
Wages earned = $53,300
Interest received = $1,900
Tax-deferred retirement plan = $3,200
Personal exemption = $2,900
Deductions totaling = $5,220
Now,
Gross income = Wages earned + Interest received
= $53,300 + $1,900
= $55,200
Adjusted gross income = Gross income - Adjustments
= $55,200 - $3,200
= $52,000
Taxable income = Adjusted gross income - (Exemption + Deductions )
= $52,000 - ( $2,900 + $5,220 )
= $43,880
How much could the Simpsons receive on a home equity line of credit on their home with a market value of $225,000 and their equity of $60,000 with having an outstanding mortgage of $125,000 (consider 80% LTV) ?
Answer:
$55,000
Explanation:
The Simpsons could potentially receive up to $55,000 from a home equity line of credit, calculated by taking 80% of the home's value ($180,000) and subtracting the outstanding mortgage amount ($125,000).
Explanation:The Simpsons want to calculate how much they could receive from a home equity line of credit (HELOC) on their home valued at $225,000 with an equity of $60,000 and an outstanding mortgage of $125,000, considering an 80% loan-to-value (LTV) ratio.
First, we calculate the maximum loan amount based on the home's market value:
80% of $225,000 (market value) = 0.80 × $225,000 = $180,000.
Then, we subtract the amount owed on the mortgage to determine the potential credit line:
$180,000 (80% LTV) - $125,000 (outstanding mortgage) = $55,000.
Therefore, the Simpsons could potentially receive up to $55,000 from a HELOC.
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Richard goes on a vacation to Orlando, Florida and stays in a hotel there. While at the hotel, he accidentally leaves his guitar in his hotel room and checks out of the hotel. The guitar represents ________, and the hotel has a duty to return it to Richard, who is its rightful owner.
Answer:
mislaid property
Explanation:
Based on the information provided within the question it can be said that the guitar represents mislaid property. This term refers to something that was left in a specific place with the intention of retrieving it later but then forgotten. Which is exactly what happened with the guitar, as Richard left it in the hotel for safe keeping but forgot to take it when he left the hotel for good.
Richard's guitar left in the hotel represents personal property. The hotel is legally obligated to care for it and try to return it to Richard.
Explanation:In the given situation, Richard's guitar left in the Orlando, Florida hotel while on vacation represents a form of personal property. The hotel now has a legal duty, known as bailment, to take care of the guitar and, if possible, return it to its rightful owner, who in this scenario is Richard. It's important to note that the hotel shouldn't use or damage the guitar as it doesn't belong to them. In case of any harm or loss, the hotel might be held responsible and required to compensate Richard for his personal property.
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Suppose that the CPI does indeed overstate the rate of inflation. When the CPI increases by 5%
and household incomes increase by 5%, we should conclude that the real incomes of
households:
A. increased.
B. stayed constant.
C. decreased.
D. increased more slowly than inflation.
Answer:
A) increased.
Explanation:
If the CPI overstates the inflation rate, it means that the CPI is higher than the inflation rate. If the CPI = 5%, then the inflation rate must be lower than 5%. If the household incomes increased by 5%, then the real income (nominal income discounted by inflation rate) should have increased.
For example, the inflation rate is lower than 5%, so lets say it is 4%. Then the real income increased by: 5% / 4% = 1.25% - 1% = 0.25%
Viet drives around and checks meters to document the amount of electricity used in homes. What Energy pathway is he a part of? Energy Conversion Energy Transmission Energy Generation Energy Distribution.
Answer:
he would be part of the energy distribution process
Explanation:
As Viet drives around and checks meters to document the amount of electricity used in homes since the electricity is distributed off a power line into the house and then within the house by the wiring to the lights and the electrical outlets for usage by the inhabitants.
Answer:
Energy Distribution
Explanation:
Just finished the test for this.
Suppose that a price-discriminating firm divides its market into two segments. If the firm sells its product for a price of $22 in the market segment where demand is relatively less elastic, the price in the market segment whose customers' demand is more elastic will be
Answer:
The correct answer is: less than $22.
Explanation:
Price discrimination is a situation where a firm charges different prices for the same product. Different price is charged generally from consumers with different price elasticities.
A firm charges a higher prices from the consumer with lower price elasticity because with a higher price there demand will decrease less than proportionate.
Lower price is charged from consumers having a higher price elasticity of demand because these consumers will decrease their demand more than proportionate at a higher price.
So if a firm charges $22 in the market segment with less elastic demand, the price in the more elastic market segment will be lower than $22.
ACME Corp. has a pricing objective to increase its primary product's sales relative to total industry sales. This is best described as a(n) _______.
a. return-on-investment objective.
b. status quo objective.
c. product quality objective.
d. market share objective.
e. cash flow objective.
Answer: Option A
Explanation: In simple words, return on investment refers to the profit that an investor makes on the total amount of resources he or she employs in an investment. An investor setting a standard regarding earning a profit in relation to his or her investment in a project is called a return on investment objective.
Generally such objectives are set for earning at least a minimum amount, however above that will be accepted positively and higher return that the set criteria is possible as well.
Hence from the above we can conclude that the correct option is A.
Monica, a new student at Valley High School, becomes friends with a group of teenagers who use marijuana and remain seated during the singing of the National Anthem. Although Monica had never used marijuana and used to sing the Anthem, she begins to engage in the same behavior as her new friends. This is an example of________.
A. differential association.
B. conformity.
C. labeling.
D. both conformity and labeling.
Answer: (A) Differential association
Explanation:
The differential association is one of the type of theory and it is proposed by the Edwin Sutherland In the year 1939.
This theory basically explain about the people values, motives, attitude and the technique which is developed by the interaction with the other people. This theory is also revised in the year 1947.
This theory basically explain about the criminal behavior of the person and also describe about the leaning theory of the deviance.
Therefore, Option (A) is correct.
Monica's behavior of using marijuana and not singing the National Anthem as her new friends do is an example of conformity, which is the tendency to adapt to the behaviors and attitudes of a group.
Explanation:Monica, a new student at Valley High School, adopts the behavior of her friends by using marijuana and remaining seated during the singing of the National Anthem. This scenario is an example of conformity. Conformity refers to the change in an individual's behavior to match the actions and attitudes of a group, even if they differ from the individual's previous behaviors and beliefs. In the context of socialization and drug use, conformity is seen when individuals adapt their behaviors, such as drug or alcohol use, based on the activities of their peers. This widespread tendency to act and think like the people around us, like Monica did with her new friends, is a response to social norms and the influence of those we spend time with.
The manager of the bank where you work tells you that the bank has $300 million in deposits and $255 million dollars in loans. If the reserve requirement is 8.5 percent, how much is the bank holding in excess reserves?
Answer:
The bank is holding $19.5 million in excess reserves.
Explanation:
If the bank has $300 million is deposits and the reserve ratio is 8.5% then the bank needs to have minimum reserves of 8.5% of 300 million so the minimum reserves are 0.085*300 million = 25.5 million
How ever the actual reserves of the bank is the difference between deposits and loans. The deposits are 300 million and loans are 255 million so the actual reserves are 300 million-255 million= $45 million
Excess reserves is the difference between the actual reserves and the minimum reserves so 45 million - 25.5 million = 19.5 million.
Laurel loves his job. It offers him the opportunity to meet lots of people, to work outdoors, and to do things his own way. Laurel often jokes that he would be glad to do his job even if he weren't given any pay. This sense of fulfillment is an example of
A. egocentrism.
B. extinction.
C. halo effect.
D. intrinsic reward.
Answer: Option D
Explanation: In simple words, intrinsic award refers to the satisfactions that an employee fells for himself and herself from his or her job. It refers to a situation when an employee thinks they are getting extra benefit from the job they are performing even though no such benefit is actually provided by the entity they are working for.
In the given case, laurel thinks the some of the characteristics of the job as the extra benefit she is getting. Hence from the above we can conclude that the correct option is D.
Final answer:
Laurel's enjoyment and sense of fulfillment from his job demonstrate D. intrinsic motivation, which is fueled by internal satisfaction rather than external rewards like pay.
Explanation:
Laurel's sense of fulfillment from his job, where he enjoys meeting people, working outdoors, and doing things his own way without needing pay, illustrates an intrinsic reward. Intrinsic motivation comes from within, deriving joy from the activity itself rather than external factors such as compensation. This concept is exemplified in scenarios where personal satisfaction and fulfillment are the main drivers for engaging in an activity.
The enjoyment of the process and self-determined nature of the pursuit are hallmarks of intrinsic motivation. Conversely, the overjustification effect can occur when extrinsic rewards overshadow the pleasure of intrinsically motivated behavior, potentially diminishing the initial joy and autonomy experienced.
In many organizations, information flows much more freely within functions than it does across functions. __________ represents an expanded effort to overcome this tendency.
Multiple Choice
MRPII
DRP
MRP
CRP
ERP
Answer: ERP (Enterprise resource planning)
Explanation:
The ERP is stand for the enterprise resource planning and it is the type of business management software which basically allow the organization for managing the integrated applications in the business. It improve the the services and the technology which is related to the function in the back office.
The enterprise resource planning is the system that helps in the improvement of the internal process and the performance of the overall business. The main function of the ERP system is that it support various types function when the ERP system share the database to the different units in the business.Therefore, ERP is the correct option.
The company uses the allowance method to account for uncollectible receivables. At the beginning of the year, Allowance for Bad Debts had a credit balance of $ 800. During the year Blended wrote off uncollectible receivables of $ 2,100. Blended recorded Bad Debts Expense of $ 2,900. Blended's year-end balance in Allowance for Bad Debts is $ 1, 600. Blended's ending balance of Accounts Receivable is $ 19,500. Compute the net realizable value of Accounts Receivable at year-end.
Answer:
$17,900
Explanation:
Data provided in the question:
Allowance for Bad Debts at the beginning of the year = $800
Uncollectible receivables during the year = $2,100
Bad Debts Expense at the year end= $2,900
Allowance for Bad Debts at the year end = $1,600
Accounts Receivable at the year end = $19,500
Now,
Net realizable value is calculated as:
= Account receivable at the end of year - Allowance for doubtful accounts at the end of year
= $19,500 - $1,600
= $17,900
Fiat money has A. little to no intrinsic value and is authorized by the central bank or governmental body. B. a great intrinsic value that is independent of its use as money. C. little to no intrinsic value but is backed by the quantity of gold held by the central bank. D. value, because it can be redeemed for gold by the central bank.
Answer:
The answer is A. Fiat money has little to no intrinsic value and is authorized by the central bank or governmental body.
Explanation:
Fiat money is the money that is issued by a country's government/ reserve bank whose value will be decided by the supply and demand of the money in the market, the country economic/social/political stability and potential.
Fiat money is not backed by commodities ( such as gold, silver) which secures its exchange power for a specific amount of commodities; it has no guarantees on its value ( i.e purchasing power), as a result has no intrinsic values itself. Instead, its value comes from the agreements of exchanging parties and the governance of its supply by the central bank.
Most countries' currencies nowadays are classified as fiat money, such as US dollar, Euro, Yen...
Answer:
A. little to no intrinsic value and is authorized by the central bank or governmental body.
Explanation:
Fiat money is money that has little to no intrinsic value and is authorized by the central bank or governmental body.
It is usually established by the government as legal tender and its value is maintained by the government.
Commodity money has a great intrinsic value that is independent of its use as money.
The JCM contends that these dimensions are required for a high level of motivation among workers.
a) high pay,
b) autonomy,
c) feedback meaningful work,
d) independence autonomy,
e) feedback,
f) good management
Answer:
b) autonomy
c) meaningful work
e) feedback
Explanation:
The Job Characteristics Model (JCM) states that motivation increases when the employee cares about his job and what he does at his job. In this sense a meaningful work is one that is considered important and is valued by the employee. Autonomy is important because it gives the employee a sense of personal responsibility. How jobs are designed is critical for employee motivation. Finally the employees need feedback both from their coworkers and management, since it not only helps them correct mistakes but it also makes them feel noticed and an important part of the organization.
Double Click, Inc. has a number of strategic business units. Their handheld computer unit has a large market share in this rapidly growing industry. According to the BCG matrix, their handheld computer business would be classified as_________.
Answer:
a star.
Explanation:
Based on the information provided within the question it seems that their handheld computer business would be classified as a star. This term refers to a product or service that a company offers which holds the most market shares and generates the most revenue for the company out of all the products and services that they provide. Such as is the case with Double Click's handheld computer units.
The selling process begins with prospecting and qualifying. Welcome Home wants its sales force to call on those customers who are most likely to respond to the company's value proposition, which makes prospecting a crucial step. To sell townhomes, Welcome Home must get traffic to its model homes. To encourage visits to its community, an email campaign has been planned. A number of commercial email lists are available for purchase that include demographic selects. Which of the following attributes will you use for targeting the email campaign? Select an option from the choices below and click Submit.A. Geographic: Location of current residence B. Religious affilation: Jewish, Christian, Muslim, Buddhist, etc. C. Employer: Location of employer
The most relevant attribute to use for targeting the email campaign is the geographic location of current residence.
Explanation:For targeting email campaign, the most relevant attribute to use would be geographic location of current residence. This is because the location of the customers current residence will determine their proximity to the model homes, making it more likely to visit. The attributes mentioned, such as religious affiliation and employer location, may not have a direct impact on the likelihood of a customer responding to the value proposition for townhomes.
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For a successful email campaign targeting potential homebuyers for townhomes, it would be most effective to use the Geographic: Location of current residence attribute for determining targeted recipients. This, along with considering the common ages for home-buying, can increase the effectiveness of the campaign.
Explanation:In targeting an email campaign for selling townhomes, the most affective attribute would be Geographic: Location of current residence. This is primarily because geographical location can strongly influence a person's likelihood to purchase a home in a specific area. For example, people currently living in urban or suburban areas may be more interested in townhomes. Additionally, understanding where a potential customer currently resides can help predict their commute, proximity to desired amenities, and potential interest in the townhomes being sold.
It's also essential to consider other demographic information such as age, as the number of people at the most common ages for home-buying could increase the success of an email campaign. These demographic selects, often available in commercial email lists for purchase, enable businesses to target their marketing efforts effectively.
While the attributes like employer location or religious affiliation could provide some insights, they are not as directly relevant to the likelihood of a potential customer purchasing a home. Therefore, focusing on geographic location and age demographics would yield the most effective results for the email campaign.
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Garments that are sewn overseas are shipped in containers to the Port of Seattle. These containers are then loaded on rail to major centers in the United States only to be unloaded onto semi trucks for delivery to the appropriate store. This transportation solution is commonly referred to as___________.
Answer: Multi-modal
Explanation:
The multi-modal is one of the type of communication that mainly focus on the contractual arrangement.
The multi-model is the type of shipment mode in which the shipment of products and the services are transport from one form to another by using the shipping container.
The mode of the transportation is usually the rails and the roads. In the given situation, the given transportation solution is basically refers to the multi-modal.
Tyler runs a parasailing business on Hilton Head Island, South Carolina. Tyler closes his business in winter when the water gets too cold. Tyler should use a _________ advertising schedule.
Answer: Flighting advertising schedule
Explanation: In simple words, flighting period refers to the period in which advertising is being run. In such a strategy the organisation decides between two alternative scheduling, that is, whether to keep advertising running or cease all the runs for a specified time.
Flighting is generally used when the advertising is done on television but can also be for other mediums such as radio and newspaper etc. This helps an organisation to balance their advertising activity with the needs of their customers.
Tyler should use a seasonal advertising schedule for his parasailing business, focusing his efforts during the warmer months when his services are operational.
Explanation:Tyler, who runs a parasailing business on Hilton Head Island, South Carolina, should opt for a seasonal advertising schedule. Because his business closes during the winter months due to the water being too cold, his advertising efforts would be most effective if they are ramped up in the periods leading up to and during his peak business months. Thus, a seasonal advertising strategy allows for advertising to be concentrated in the times when potential customers are most likely to be interested in parasailing, aligning with the periods of warm weather conducive to the activity. In this way, Tyler can optimize his advertising budget by focusing on the spring and summer months when tourists and locals are most likely to engage in water sports.
According to Laszlo Bock, Google believes in hiring the best talent from the start rather than hoping to develop mediocre talent over time. As such, Google's talent management strategy focuses more money on employee selection than _________ relative to most other companies.
Answer:
training
Explanation:
Based on the information provided within the question it can be said that Google's talent management strategy focuses more money on employee selection than training relative to most other companies. If they were to focus on training they would have to hire people with few experience and train them over time. This is exactly what Google wants to avoid since training does not guarantee that the individuals will become the best talent available and may still end up being mediocre.
Gross Domestic Product equals $1.2 trillion. If consumption equals $690 billion, investment equals $200 billion, and government spending equals $260 billion, then:
A. exports exceed imports by $50 billion.
B. imports exceed exports by $50 billion.
C. imports exceed exports by $150 billion.
D. exports exceed imports by $150 billion.
Answer:
A. exports exceed imports by $50 billion.
Explanation:
GDP = Consumption spending + Investment + Government Spending + Net Export
Net Export = Export - Import
1.2 = 0.69 + 0.2 + 0.26 + Net Export
Net Export = $0.05 trillion
Net Export was $50 billion. Since net export is positive, exports exceeds import by $50 billion.
Real per capita GDP in China in 1959 was about $350, but it doubled to about $700 by 1978, when Deng Xiao Ping started market reforms. Chinese per capita real GDP doubled again in only seven years, reaching $1,400 by 1986. What was the average annual economic growth rate between 1979 and 1986?
Answer:
10.4%
Explanation:
In macroeconomics class we are told that if an economy grows by 10%, it will take them 7 years to double its size.
The answer is not exactly 10%, but it's pretty close:
(1 + x%)⁷ = 2
1 + x% = ⁷√2
1 + x% = 1.104
x% = 1.104 -1 = 0.104 or 10.4%
We can check the answer: 1.104⁷ = 2
Bonita Industries planned to use 1 yard of plastic per unit budgeted at $101 a yard. However, the plastic actually cost $100 per yard. The company actually made 4600 units, although it had planned to make only 3800 units. Total yards used for production were 4660. How much is the total materials variance?
Answer:
total materials variance is $1400 Unfavorable
Explanation:
given data
budgeted = $101
actually cost = $100 per yard
company actually made = 4600 units
planned to make = 3800 units
Total yards used for production = 4660
to find out
How much is the total materials variance
solution
we know that company made 4600 so 4600 yards should be use of material but here actually used 4660 yards
so materials quantity variance is = 60 × $100 = $6000 Unfavorable
material more used
and
here materials bought less than standard price
so that we can say, materials price variance is favorable
so 4600 units should used materials costing = 4600 × $101
initial estimates materials costing = $464600
and
Actually 4600 use materials costing = 4600 ×100 = $460000
so
materials price variance = $464600 - $460000 = 4600 Favorable
and
total materials variance = $4600 - $6000 = -1400
so total materials variance is $1400 Unfavorable
Strict product liability is the doctrine that the seller of a product has legal responsibilities to compensate the user of that product for injuries suffered due to a defective aspect of the product, even though the seller has not been negligent in permitting that defect to occur.
Answer:
The correct answer is A doctrine that holds that the manufacturer of a product has legal responsibilities to compensate the user of that product for injuries suffered because the product's defective condition made it unreasonably dangerous, even though the manufacturer has not been negligent in permitting that defect to occur.
Explanation:
Product liability is the most effective weapon the consumer has against dangerous products. This responsibility can occur at any point in the process of manufacturing or distributing a product. Consequently, the manufacturer, the wholesaler and the seller of the product can share the responsibility of the damages caused by a dangerous or defective product.
A person injured by a dangerous product is required to verify that the product is defective. There are three types of defects that place responsibility on the manufacturers and distributors of a product:
Design: An imperfection or an error in product design made it inherently dangerous. This imperfection existed before the product was manufactured. Manufacturing: A lack in the manufacturing process caused some products to be defective. Marketing: The warnings or instructions needed to use a product correctly were missing.After the civil war the supreme court tended to view economic regulation as something that
Answer:
attacked or assaulted property rights.
Explanation:
After the civil war, the supreme court held the idea that any government regulation (especially economic regulation) denied private businesses of their property rights and liberties, which constituted a violation of the Fourteenth Amendment. The Fourteenth Amendment guaranteed equal and legal rights to all US citizens (businesses were included as citizens) and guaranteed that no government (state or federal) shall deny any citizen of life, liberty, or property without due process of law.
We have to remember that these were sensible times and the supreme court tried to protect the newly given rights specially to African Americans, but sometimes business people are very capable of using ideological trends in their favor.
A contractor estimated that his 10-men crew could complete the construction in 110 days if there was no rain. (Assume the crew does not work on any rainy day and rain is the only factor that can deter the crew from working). However, after 5 days of rain, on the 61-st day, he hired 6 more people to finish the project early. If the job was done in 100 days, on how many days after day 60 was it raining?(A) 4(B) 5(C) 6(D) 7(E) 8
Answer:
option (B) 5
Explanation:
Given:
Estimated number of men required if no rain = 10
Number of days required in there is no rain = 110
Number of days with rain = 5
Number of people hired after the 61st day = 6
Therefore,
Total man-days required = 10 × 110 = 1100
Total Man-days before 61st day
= (60 days - number of days with rain ) × Initial number of men
= ( 60 - 5 ) × 10
= 550
let the number of days it rained after day 60 be 'n'
Thus,
Man-days worked after 61st day
= Total number of men after 61st day × ( 100 days - 60 days - x )
= 16 × (40 - n)
also,
Total man-days required = Total Man-days before 61st day + Man-days worked after 61st day
or
1,100 = 550 + 16 × ( 40 - n )
or
550 = 640 - 16n
or
n = 5.625
therefore,
It rained for 5 days
option (B) 5
An analysis that evaluates differential revenues and costs in order to determine the differential impact on income of two alternative courses of action is called __________ analysis.- horizontal- vertical- ratio- incremental
Answer:
Incremental
Explanation:
Incremental analysis is an essential leadership system utilised in business to decide the actual cost contrast between choices. Likewise, it is also called the applicable cost approach it ignores any sunk expense or past cost. It helps to do conduct a comparative analysis of two projects. Likewise, it also assist firms to take a significant decision regarding projects.
If a U.S. citizen in New York purchases a $1,200 television that was made in Korea, the Korean receives the money from the purchase. In that case, the U.S. current account _______________ and the U.S. capital account _______________.
Answer:
decreases by $1,200increases by $1,200.Explanation:
This is not exactly how selling imported goods work since most of the money stays in the country. For example, for every dollar spent on shoes made in China (or some other Asian nation), only about 25 cents return to China, while most of the money is earned by domestic companies (e.g. retailer, shipping company, etc.).
Lets assume that the citizen of New York spent $5,000 in a new TV and $1,200 went to Korea. The US current account will decrease by $1,200 (the current account measures exports minus imports) since the country has to pay for foreign imports.
The capital account measures financial transactions, and since the $1,200 is held by a Korean firm, then the US capital account will increase by $1,200.
After finishing his paragraph about the upsurge of sales of blue jeans for six-month-old babies, Roger created a set of pie charts to demonstrate the dramatic change in sales from five months ago. In making this choice, he takes advantage of which particular benefit of visuals?
A.To clarify
B.To emphasize
C.To unify
D.To summarize
E.To simplify
Answer:
B. To emphasize
Explanation:
Emphasize means to put stress on something to highlight its importance. So, Roger is taking advantage of emphasizing with the use of visuals as he is using them to draw the attention and highlight the dramatic change in sales of blue jeans which is the idea in his paragraph.
Ted was dissatisfied with his job. He said that the company policy, supervision, and working conditions were responsible for his dissatisfaction. According to Frederick Herzberg's theory, ________ are the extrinsic factors that create job dissatisfaction.
A. motivators
B. hygiene factors
C. affiliation factors
D. wellness factors
E. achievement factors
Answer: (B).
"Hygiene factors" are the extrinsic factors that create job dissatisfaction.
Explanation:
Frederick Herzberg's theory states that some factors in the organization lead to job satisfaction while others cause job dissatisfaction.
According to him, the presence of motivators (such as; recognition and employee involvement) in an organization lead to job satisfaction.
He also stated that when "hygiene factors" (such as conducive working conditions, good supervision and job security) are absent, it causes dissatisfaction in the workplace, even though their presence don't improve job satisfaction.
__________ is a form of warehousing that combines classic warehouse operations with light manufacturing and packaging duties to allow firms to put off final assembly or packaging of goods until the last possible moment.
a) postponement
b) a hub-and-spoke system
c) assortment
d) spot stock
Answer:
Postponement warehousing,
Explanation:
Postponement warehousing, is form of warehousing that combines classic warehouse operations with light manufacturing and packaging duties to allow firms to put off final assembly or packaging of goods until the last possible moment.
hub and spoke, consists of one hub (central location), at which the warehouse is located and it is transported to different locations through routes called spokes.
assortment is a form of warehouse in which a wide array of goods are held close to the source of demand to ensure short lead time.
spot stocking refers to company's goods stocked in a small warehouse for easy access. Often done seasonally.
Postponement is the warehousing form that merges traditional storage with light manufacturing tasks to delay final product assembly or packaging, which aligns with just-in-time delivery principles.
The form of warehousing that combines classic warehouse operations with light manufacturing and packaging duties to allow firms to put off final assembly or packaging of goods until the last possible moment is known as postponement. This system aligns with the principles of just in time delivery, reducing the need for large inventories and allowing for more flexible and efficient supply chain management. Companies utilizing postponement leverage logistics and locational criteria to minimize storage costs and maximize responsiveness to market demands.
https://The term ________ is commonly used to refer to a collection of companies and processes involved in moving a product from the suppliers of raw materials to the customer.\/244171694/ist-exam-3-chapter-8-flash-cards/
Answer:
Supply chain
Explanation:
A supply chain is a network of steps involved in the production and delivery of products to a customer. The supply chain process starts with raw materials acquisition, the manufacturing process, and the distribution of products to the point of sale. The supply chain systems will include all the people, entities, technology, and structures that take part from creating to the sale of a product.
The supply chain affects the final price of a product. A poorly managed supply chain is costly and will lead to products being expensive. An efficient supply chain ensures a company's products are always available to customers, and at a fair price.