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Question:
(a) ‘Stock is often said to be the biggest evil in any business, yet firms still keep stocks.' Discuss the reasons for keeping stocks.
(b) Discuss the main costs involved in keeping stocks.
(c ) The demand per month for a spare part is 200 units. The storage space cost per unit per year is Rs20. The cost for ordering the spare part is Rs35 per order. Each unit of the spare part is Rs150 and interest rate is at 10%.
(i) Detrmine the economic order quantity.
(ii) Find the total cost.
(iii) The purchasing manager got an offer of a discounted price of Rs140 per unit if he orders in lot sizes of 600. By performing the necessary calculations indicate whether he should shift to the new policy instead of using the EOQ.
Question: (a) What is a Quality Management System (QMS) and why should an organization implement a Quality Management System? (b) Explain the eight fundamental Quality Manag
In designing the "marketing strategy" for your own business, how might you use "segmentation variables" to help you identify your "target market"?
Carlos enjoys wearing women's makeup. One day, he wears mascara and lipstick to work, causing quite a stir in his workplace. He disobeys a direct order from Christine, his employer
1. A company hires a file clerk but does not inquire into his criminal history. In fact, he has had several convictions for driving while intoxicated. On a lunch break, he gets dru
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