The interaction between purchasing and supply management often determines the level of success achieved by these units. Discuss below three functions involved in the success of the general business operations, provide an original example for each function Q.1.1 The operetions/ production function Human resources function Administrative and finance function
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Hi there can you assist on the following question below
The interaction between purchasing and supply management often determines the
level of success achieved by these units. Discuss below three functions involved in the
success of the general business operations, provide an original example for each
function
Q.1.1
The operetions/ production function
Human resources function
Administrative and finance function
Step by step
Solved in 2 steps
- Informatics Corporation summarizes international information reports (on a weekly basis), prints sophisticated data and forecasts, which are purchased weekly by mutual funds, banks and insurance companies. This information is very expensive and the demand for the reports is limited to a maximum of 30 units. The possible demands are 0, 10, 20 and 30 reports per week. The profit per report sold is Rs. 30 and the loss per report unsold is Rs. 20. No production of extra reports during a week is possible. Further, there is a penalty cost of Rs. 25 per unit for not meeting the demand. Unsold reports cannot be carried on to the next week. Construct a pay-off table, & find out the number of reports to be produced if: Maximin or pessimistic strategy is used Maximax or optimistic strategy is used Laplace strategy is used Minimax Regret Strategy is used1.Who is Jeff Bezos? How did he establish the enterprise of Amazon Corporation in the US? 2.What are the challenges of Amazon Company? 3.What are the best practices and strategies of Amazon that you can apply in supply chain management and logistic? 4. How can you compare the logistic industries in the US and here in the in your country?Determine which factor of production is needed in the following problem. 1.The ABM manufacturing Co.hired a gardener.He uses a lawn mower for landscaping.Which factor of production would you consider this machine? 2.The owner of the company withdrew cash for the salaries of thw employees.which factor of production would you consider cash on hand? 3.The top manager of the firm said "the great ideas,consepts and emotional determination of a person to produce something that consumers want to buy" is very important for the company.What factor of production describes the ability to create great ideas? 4.The farmers planted pineapple cutting in the vacant area located in their locality.Which factor of production would you consider a pineapple plantation?
- Your Corporation manufactures four products that use the same raw material and production machine. Your Company is experiencing a shortage of pounds of the raw material. Information related to the four products are shown below. Products A B C D Selling price $40 $32 $35 $65 Variable cots $34 $22 $27 50 Machine hours per unit 6 8 5 7 Pounds per unit 18 20 28 38 To maximize profit next month, in what order would it be best to schedule production (first to last)? a. A, B, C, D b. A, D, B, C c. B, D, A, C d. D, A, C, BHi there can you please assist on the following question below Q.1 .The interaction between purchasing and supply management often determines the level of success achieved by these units. Discuss any three functions involved in the success of the general business operations, provide an original example for each function.SLO-3.1 The major reason supply management can greatly improve a firm’s return on investment (ROI) is: A) the reduction of post ownership costsB) the reduction of downtime costsC) the reduction of quality costsD) the reduction of acquisition costE) every dollar saved in purchasing is = to a new dollar of profit NEWSLO-3.2 Which of the following is generally not true about supply management and the bottom line? A) Purchased items account for a large percentage of the cost of goods sold. Hence, a reduction in cost of purchased goods has a major impact on the bottom lineB) A Euro increase in sales is equivalent to a Euro decrease in materials cost in impacting the bottom lineC) Outsourcing allows firms to focus on their core competencies, which reduced potential for waste, which then can improve the bottom lineD) A dollar saved in materials cost is usually considered a dollar increase in profit, which directly translates into bottom line savingsE) Supply management can work…
- Based on the above information, prepare a report for the head of the accounting department of RCIATOLimited to evaluate their revenue cycle. In your report, you need to include the following items:1. "Establishing separate departments for warehousing, shipping and inventory control willenhance internal controls over the inventory." Discuss this statement in the light of the existingrevenue cycle of RCIATO Limited.2. In the light of our discussion during interactive tutorials, describe potential internal controlweaknesses in the sales order processing procedures and cash receipts procedures of RCIATOLimited.3. In the light of our discussion during interactive tutorials, discuss the potential risks associatedwith the internal control weaknesses identified in Section (2) above.4. Based on Section (3) above, what types are frauds are possible. Hint: we have discussed differenttypes of frauds in the interactive tutorial and lectures. Your discussion should be based on these contents.1.Which of the following pertains to an efficient supply chain? A)It deals with innovative products B)The product life cycle will be short C)It is worthwhile to invest in good forecasting systems D)All of the above 2.Which of the following costs do not come under inventory carrying cost calculation? A)Investment in a software for updating stock position online B)Investment in stores space C)Salaries of procurement personnel D)Cost of maintaining the inventory stocks 3.Which of the following will have lesser bullwhip effect in a supply chain? A)Supply Chain co-ordination B)Opening more stocking points closer to the point of consumption C)Empowering the lower echelons of the inventory to take decisions on fulfilling the demand D)All of the aboveConsider walmart is having a inventory management problem. What could be the root cause for this problem? Use the 5 M's (Manpower, Methods, Materials, Machines, Measurements) and describe how changes in these factor can fix the problem?
- When deciding on whether or not to outsource, which of the following is a reason for not outsourcing? A. Lower production cost Ob. Control in supply chain activities OC Reduced inventory costs Od. Management can focus on its primary businessAs part of the answer, you are required to: Determine supply chain's competitive strategy (You can read the sion on textbook about different competitive strategies in some example supply chains) Once you determine competitive strategy than you areed to select a distribution network design (You can select one of the six designs. distribution network design. You are required to select a product family consisting of four products for your distribution network, products(s) should be simple assemblies with a basic bill of material structure. You can choose simple products consisting of only a handful of components. For example a bill of material for Office table is given below, if your part family consists of four parts with each part being a different Office table, for example Part A: Short Office table, Part B: Wide Office Table, Part C: Four Legged Table and Part D: Long Office Table. Bill of Material for Office Table Table Final Assembly Top Assembly (1 required) Support Assembly (1…The EastCoasters Bicycle Shop stocks bikes; helmets;clothing; a variety of bike parts including chains, gears,tires, wheels; and biking accessories. The shop is in astorefront location on a busy street and it has very limitedstorage space for inventory. It often runs out of items and isunable to serve customers. To help manage its inventorythe shop would like to classify the stock using the ABCsystem. Following is a list of items the shop stocks and theannual demand and unit value for each:Classify the inventory items according to the ABC ap-proach using dollar value of annual demand.