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Your final exam consists of five essay questions. It is a cumulative exam and covers all material in this course. Answer the questions as completely as possible and use examples to help illustrate your point. Make sure these answers are in your own words and not plagiarized. Good luck and thank you for a fun class!
Prepare a Word document that addresses each of the following questions and submit to your instructor.
Some economists believe that supply determines what happens to demand while others believe demand determines what happens to supply. Explain both sides with examples.
The supply and demand for one product can affect the supply and demand for complementary items. Explain and give examples.
The supply and demand for one product can affect the supply and demand for substitute items. Explain and give examples.
What is "Elasticity?" Identify products which have an elastic demand. Identify products which have an inelastic demand. Identify products with a unitarily elastic demand. Explain what this means for all three.
A lot of rules in Economics are based off of having perfect competition. What is this? What does it mean to have an imperfectly competitive market? Explain with examples.
Why might a company use supply chain monitoring? What types of metrics could be used in the monitoring process
The logistics of a global cold chain getting fresh vegetables from farms in Thailand to supermarkets in Europe
Describe five internal control weaknesses in Everyday Supplies' internal control for the cash receipts and billing functions. Explain why each is a weakness.
What is the EOQ, in minimizing cost, how many orders would be made each year and what is the time between orders?
Why is time important to competitive advantage? Identify and explain six key contributions that speed can make to logistics and supply chain strategy. Document your sources.
Explain the levels of intensity in the distribution channel
The management has been debating which quadrant should aluminium be placed in the Kraljic portfolio matrix. Examine the considerations in the positioning of aluminium in this matrix. Analyse the most effective purchasing contract for this commodity
What issues need to be considered when deciding to change levels of capacity? How is this decision taken in your or well known industry.
The shortest amount of time in which the project schedule can be crashed without exceeding $7K and the project critical path that resulted from crashing the project
What is a supply chain. What are some potential benefits of managing the supply chain. What are the key factors that help an organization decide what type of framework they should use to develop the supply chain.
Topic: Analyze key parameters of a company's supply chain operations, suggest improvements, and predict the operational and economic impact of the changes.
Implementing ERP Systems - why do many firms find it difficult to implement an ERP system?
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