Both merchandising and manufacturing companies normally have multiple inventory accounts. 3. When using a perpetual inventory system, freight charges on goods purchased are debited to Freight-In. 4. If a supplier ships goods f.o.b.
The customer may have bought it straight from the business or the producer of the product per through the retailer or the wholesaler. This specific way of purchasing is called channels. It is sensible to use more than one route of channels, this is so that the customers is able to make choice of which way they wish to purchase the product * Manufacture- produces goods and sells them. They also have a big factory where they turn raw material into finished goods. * Retailers- There may be owned by the manufactured or independent of the manufactured.
Vertical Chain: The production of any goods or services involves a lot of activities. The hierarchy beginning with acquisition of raw materials to the distribution and sale of finished goods and services is called the vertical chain of the firm. Fig1: Simplified vertical chain of multibrand retailer Tesco. Vertical chain of Tesco shows that goods reach the import centres or main Distribution centre from suppliers. It is transported to regional distribution center and from there to respective stores.
In a world that is more gray than black and white, it is interesting to know that a business can only be either a vertical or horizontal organizational structure. Each company’s structure is determined by several factors that include the number of business units, departments, and substructure staff members. While there are substructures within a company’s organization, there is a basic outline that each one will follow as they navigate through the choices that will ultimately determine which type of structure they become. A vertical structure company will include roles such as a board of directors, a chief executive officer, and hierarchical levels to determine the amount of authority given to each area as needed (Bateman, T. S., & Snell, S. A. 2010).
(TCO 3) ISO 9000:2000 defines a _____-based approach to quality management systems. (Points : 6) 7. 7. (TCO 4) _____ is a method the Deming philosophy focuses on for improvements in product and service quality. (Points : 6) 8.
Journal of Consumer Research (Pre-1986), Volume 5(1), 41. Retrieved November 14, 2013 from ProQuest database. Tsuen-Ho, H., and Lee, M. (2003). The refinement of measuring consumer involvement - an empirical study. Competitiveness Review.
Do we have bad debt or cash-flow problems? Could any of our weaknesses seriously threaten our business? Examples of CanGo’s threats are: lack of clear performance goals, ineffective employee evaluation, competition from other online companies and cash-flow problems. (http://www.mindtools.com/pages/article/newTMC_05.htm) After identification of each
ANS: F PTS: 1 REF: p. 5 3. According to the textbook, supply chains include raw material suppliers, intermediate component manufacturers, end-product manufacturers, wholesale distributors, and retailers. ANS: T PTS: 1 REF: p. 6 4. According to the textbook, retail stores are considered the focal firms in modern supply chains. ANS: F PTS: 1 REF: p. 6 5.
In order for the organizations to determine their success, they need to fine tune everything to coordinate with their partners. SCM refers to how the activities are organized within an organization and the suppliers in order for the organization to profit from the goods delivery, production, and development. “The concept of Supply Chain Management is based on two core ideas: • The first is that practically every product that reaches an end user represents the cumulative effort of multiple organizations” (Handfield, 2011). The previously mentioned organizations are known as the supply chain. • “The second idea is that while supply chains have existed for a long time, most organizations have only paid attention to what was happening within their ‘four walls’ ” (Handfield, 2011).
Fourth, labor is needed to deal with any forthcoming customer complaints. • Excess Motion – unessential motion is caused by poor workflow, poor layout, housekeeping, and inconsistent or undocumented work ways. value Stream Mapping (see above) is additionally used to determine this type of waste. • Underutilized individuals – This includes underutilization of mental, creative, and physical skills and skills, where non-Lean environments solely recognize underutilization of physical attributes. a number of the additional common causes for this waste include – poor workflow, organizational culture, inadequate hiring practices, poor or non-existent training, and high employee turnover rate.