UNDERSTANDING BUSINESS (LL/ACCESS)
13th Edition
ISBN: 9781264671656
Author: Nickels
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 17.4, Problem 17.4AQ
Summary Introduction
To discuss: The industries that are highly dependent on high rates of inventory turnover.
Introduction: Inventory turnover refers to the number of times the company has converted its inventories into sales.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
How should small businesses prepare for future disruptions in supply chains created by natural disasters such as hurricanes, blizzards, or pandemics?
In a business setting, what types of organizations would place greater value on security rather than convenience?
What are the unmet needs of the business that sells expensive water bottles like (HydroFlask)?
Chapter 17 Solutions
UNDERSTANDING BUSINESS (LL/ACCESS)
Ch. 17.2 - Prob. 1TPCh. 17.2 - Prob. 2TPCh. 17.2 - Prob. 3TPCh. 17.2 - Prob. 4TPCh. 17.3 - Prob. 17.3AQCh. 17.3 - Prob. 17.3BQCh. 17.3 - Prob. 17.3CQCh. 17.3 - Prob. 17.3DQCh. 17.3 - Prob. 1MEDCh. 17.3 - Prob. 5TP
Ch. 17.3 - Prob. 6TPCh. 17.3 - Prob. 7TPCh. 17.3 - Prob. 8TPCh. 17.3 - Prob. 9TPCh. 17.3 - Prob. 10TPCh. 17.3 - Prob. 11TPCh. 17.4 - Prob. 17.4AQCh. 17.4 - Prob. 12TPCh. 17.4 - Prob. 13TPCh. 17.5 - Prob. 14TPCh. 17.5 - Prob. 15TPCh. 17.5 - Prob. 16TPCh. 17 - Prob. 1CECh. 17 - Prob. 2CECh. 17 - Prob. 3CECh. 17 - Prob. 1CTCh. 17 - Prob. 2CTCh. 17 - Prob. 3CTCh. 17 - Prob. 4CTCh. 17 - Prob. 1DCSCh. 17 - Prob. 2DCSCh. 17 - Prob. 3DCSCh. 17 - Prob. 4DCSCh. 17 - Prob. 5DCSCh. 17 - Prob. 1PPTCh. 17 - Prob. 2PPTCh. 17 - Prob. 1VCCh. 17 - Prob. 2VCCh. 17 - Prob. 3VC
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- After graduation, you decide to go into a partnership in an office supply store that has existed for a number of years. Walking through the store and stockrooms, you find a great discrepancy in service levels. Some spaces and bins for items are completely empty; others have supplies that are covered with dust and have obviously been there a long time. You decide to take on the project of establishing consistent levels of inventory to meet customer demands. Most of your supplies are purchased from just a few distributors that call on your store once every two weeks. You choose, as your first item for study, computer printer paper. You examine the sales records and purchase orders and find that demand for the past 12 months was 5,000 boxes. Using your calculator, you sample some days' demands and estimate that the standard deviation of daily demand is 10 boxes. You also search out these figures: Cost per box of paper: $11 Desired service probability: 98 percent Store is open every day.…arrow_forwardSelect the ratios that will indicate how efficiently a small company is being managed. Debt Ratio Average Inventory Turnover Ratio Debt to Net Worth Ratio Quick Ratio Net Profit to Equity Ratio Current Ratio Net Profit on Sales Ratio Net Sales to Total Assets Ratio Net Profit to Assets Ratio Times Interest Earned Ratio Average Payable Period Ratio Average Collection Period Ratioarrow_forwardWhat exactly is a "hot site"? When small companies are unable to pay it, what options are available to them?arrow_forward
- If you owned your own business, would you provide your customer base with a tiered service system? Defend your position.arrow_forwardWhat is a transaction processing system? what can a transaction processing system bring benefits to the small company?arrow_forwardWhat department/unit in an enterprise (ex. operations, finance etc.) is the most difficult to manage? Why? Why is finance difficult to do?arrow_forward
- Which size of firm, large or small, is most prone to business failure?Why?arrow_forwardWhy wouldn’t a computer manufacturer do all the work of customizing systems and thereby keep all the business for itself, rather than relying on value-added resellers?arrow_forwardIdentify one employer in your area that you could see yourself working for. This should be a new employer that you haven't worked for in the past nor are you currently working for. What does the company produce? Or what service/services do they provide? What is the main source of their revenue? Who are their competitors? Is your selected company leading in their target market? Are they considered established or new?arrow_forward
- A type of business that contracts with health-care providers to provide services at reduced rates is a * Preferred Provider Organization (PPO) Health Maintenance Organization (HMO) government insurance plan O deductible and co-payment plan A time management tip for studying is to * O study hardest subjects last study in short time blocks and take periodic breaks study at night after all other responsibilities are met O study only when you can devote long periods of time to concentrate O O O O Oarrow_forwardA Business where the owner enjoys a particular craft or activity occasionally and wish to make money out of selling those items is called: a. Hobby Business b. Lifestyle Business c. Small Business d. Large Businessarrow_forwardWhy is food waste such an important issue ?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill EducationManagement (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSONSpreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
- Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSONBusiness Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSONFundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON