Examine the scenario: Consider that the current price of a juice per can is $8, buyers want to buy 300 cans of juices, sellers are willing to sell 600 cans of juices at that current price. Assessment questions: 4a. Identify the problem created with this market of juices based on the scenario above. (1) 4b. As a student in economics, suggest a solution of the problem you identified. Relate your answerwith a valid real life example toned in the business context.

Examine the scenario: Consider that the current price of a juice per can is $8, buyers want to buy 300 cans of juices, sellers are willing to sell 600 cans of juices at that current price. Assessment questions: 4a. Identify the problem created with this market of juices based on the scenario above. (1) 4b. As a student in economics, suggest a solution of the problem you identified. Relate your answerwith a valid real life example toned in the business context.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 30P

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Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?
Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?
Suppose that marketing executives for Touche Toiletries reduced the price to $6.50 for a three-ounce bottle of Ode dToade and the fixed costs were $ 1,100,000.Sppose further that the variable cost rrainod at 45 percent for a three-ounce bottle. (a) How many bottles must be sold to break Oven? (b) What dollar profit level would Oded Toade achieve if 200,00 bottle were sold?
Hi there can you please assist on the following question below You have been recently appointed as a Purchasing Manager at Unilever. The director hasmentioned that the organisation has recently been experiencing uncertainty in demand and thereis currently no available capacity. As such, he is unsure whether he should make or buy the newrange of cleaning detergents. Q1.1 Discuss below circumstances favouring buying (outsourcing) and circumstances favouring making circumstances favouring buying (outsourcing) 1.when inadequate facilities or better investment possibility exist2.when the operational staff's knowledge and skills are inadequate3. when it is cheaper to buy than to make circumstances favouring making ( insourcing) 1.When it cost the organisation less to produce the product or service2.when no or only a few reliable suppliers exist3. when there is capacity available for use.
b. Based on this extrapolation, when would Amazon be predicted to equal Walmart in revenue?c. Why has Amazon been growing faster than Walmart? Is the slow growth of Walmart related to the rapid growth of Amazon?
b. Based on this extrapolation, when would Amazon be predicted to equal Walmart in revenue? c. Why has Amazon been growing faster than Walmart? Is the slow growth of Walmart related to the rapid growth of Amazon?
H2. The owner of Alliance Food Wholesalers, Joe Slow, has asked for your advice. Alliance has been in business for over 30 years and has been in a slow growth pattern for the past decade. Mr. Slow has been dissatisfied with the returns from his business and wonders if there is anything he might do to enhance his returns. What might be your logical recommendations to Mr. Slow? A. Issue new stock to the public to increase funds available for investment. B. Borrow more money from lenders and use the proceeds to repurchase shares of stock. C. Consider selling the business to an interested party. D. Increase prices on his products.
Situation 1 You want to start an online clothing store and need information about the size of the market for the marketing section of your business plan. From an online search, you found that Americans spent $18.3 billion online for apparel, accessories, and footwear last year and that the forecast for their spending on these items in the coming year is $22.1 billion. You have also researched publicly traded apparel companies, like GAP, to discover trends in online sales for these firms. why is your research thus far in situation 1 inadequate for what you need to know
2. In this question, we will explore factors that influence growth for a company both growth in sales volume and growth in price. Describe one firm specific strategic factor, one industry specific factor, and one economywide factor that could impact one’s forecast of sales volume. Describe one firm specific strategic factor, one industry specific factor, and one economywide factor that could impact growth in prices as well.
A hotel is runned by a manager and the owners propsoed a new proposal to increase their sales and if the manager does increases the sales they will pay him addiotional 10k but if they stick to their current situation what are the pros and cons, List 4 pros and 4 cons for status quo.
Situation 1 You want to start an online clothing store and need information about the size of the market for the marketing section of your business plan. From an online search, you found that Americans spent $18.3 billion online for apparel, accessories, and footwear last year and that the forecast for their spending on these items in the coming year is $22.1 billion. You have also researched publicly traded apparel companies, like GAP, to discover trends in online sales for these firms. Situation 2 You recently visited with a friend who knew you had taken a small business course when you attended college. During your visit, she made the comment, “I plan to open a business this summer. I won't be applying for a bank loan to fund this company, so I don't have a business plan. Do I need one?” Situation 3 John Martin and John Rose decided to start a new business to manufacture noncarbonated soft drinks. They believed that their location, close to high-quality water, would give them a…
2a. An analysis of Revere Beach Corporation's operating income changes between 2021 and 2022 show the following: Operating income for 2021 $4,750,000 Add growth component 180,000 Deduct price-recovery component (60,000) Add productivity component 285,000 Operating income for 2022 $5,155,000 Required: Is Revere's operating income gain consistent with the product differentiation or cost leadership strategy? Explain briefly. 2b. An analysis of Terbolt Corporation's operating income changes between 2021 and 2022 show the following: Operating income for 2021 $4,750,000 Add growth component 75,000 Add price-recovery component 398,000 Deduct productivity component (50,000) Operating income for 2022…