Items purchased from a vendor cost Php 20 each, and the forecast for next year’s demand is 1,000 units. If it costs Php 5 every time an order is placed for more units and the storage cost is Php 4 per unit per year, what quantity should be order each time?
Refers to the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.
These are plans intended to cover a period of less than one year. First-line supervisors are mostly concerned with these plane
It is the name given to any activity undertaken by the organization with the express purpose of gaining information about potential customer
A person who occupies a higher position has power over persons in lower positions within the organization. This describes
This is a written document that states the quantity of output a company must produce in broad terms and by product family
A process of creating a set of product specifications appropriate to the demands of the situation
Refers to the process of ascertaining whether organizational objectives have been achieved and determining what activities should then be taken to achieve objectives better in the future.
A type of promotion where a paid message appears in mass media for the purpose of informing or persuading people about particular products, services, beliefs, or action.
A committee created for a short-term purpose and have a limited life
Refers to the activity combining “technical knowledge with the ability to organize and coordinate worker power, materials, machinery, and money.”
This is the written document or blueprint for implementing and controlling an organization’s marketing activities related to particular marketing strat
It involves a voluntary association of people, called members, who operate an enterprise collectively. The aim of this organization is not to make profit but to give support to their members.
The process of determining the physical arrangement of the production system.
This process can be used to measure achievement in Total Quality Management (TQM) system. Also it provides the essential control and measure feedback loop necessary for quality improvement
A function of an engineer where the engineer is directly in charge of production personnel or assumes responsibility for the product
The process of planning, organizing, and controlling operations to reach objectives efficiently and effectively
A group of activities designed to facilitate and expedite the selling of goods and services.
Defined as the process of identifying and choosing alternative courses of action in a manner appropriate to the demands of the situ
An organizational structure in which each employee reports both a functional or division manager and to a project or group manager