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When is the ordering cost decreased?
Ordering cost falls while the size of order increases. It is because when the size of order raises for the similar quantity of inventory purchased annually, in that case less orders and thus administration cost would be needed for example, staff, phone calls and paperwork etc.
Interdependent sub-systems A striking feature of complex, open systems is that each comprises a set of highly interdependent sub-systems. For instance, the human body consist
Responsibilities of Operations Managers in Operation Management The responsibilities of operations managers 1. Understand and participate in setting business strategy
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