The basic economic order quantity assumes that: Select one: a. All demand is constant, unknown and independent, without variation b. All demand is constant, known and dependent, with variation c. All demand is not constant, known and independent, without variation d. All demand is constant, known and independent, without variation e. All demand is not constant, unknown and dependent, without variation
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Question 3
One of success process strategies philosophies is the process foundation, which:
Creates the supply chain of organisation to satisfy and enhance competitiveness
Fulfills process characteristics and strategic match
Includes subcontractors due to their link to organisational processes
None of these
All of these
Question 4
Question 5
Question 6
___________________ utilises statistical modelling to predict future sales figures, often taking into account current and historical trends.
Aggregate planning
Quantitative
Sales forecasting
Qualitative forecasting
Question 7
The following is one of the reasons for ineffective forecasts
Lack of funds
None of these
Outsourcing the task of forecasting
Poor aggregate planning
Failure to involve all relevant people
Question 8
Question 9
Question 10
As part of the important situational factors to be considered in forecasting, changes in the market:
Should be avoided
Should be expected in advance
Should be communicated
None of these
Should be confronted
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