001

Question 1

Composed of economic policies, monetary and fiscal.

Answer 1

Economic environment

Question 2

Composed of the world trade principles and agreements. Currency exchange and internal and political factors

Answer 2

Global environment

Question 3

This is a framework for analyzing a company’s internal and external environment.

Answer 3

Swot analysis

Question 4

• These are the things your company does well.
• the qualities that separate your company from competitors.
• the internal resources ( ex. Skilled workers and knowledgeable staffs)
• tangible assets ( intellectual property, capital proprietary, technologies, etc. )

Answer 4

Strengths

Question 5

• the things that your company lacks
• the qualities that competitors do better than you.
• resource limitations
• unclear unique selling propositions

Answer 5

Weaknesses

Question 6

This is anything that can enhance the growth of the business.

• underserved markets
• few competition in a certain area.
• emerging needs

Answer 6

Opportunities

Question 7

This is an incentive given to a customer that lowers the cost per unit of materials or goods when larger quantities are purchased. It is also known as quantity discount.

Answer 7

Quantity Discount Model

Question 8

The lowest amount of stock for a particular product

Answer 8

Reorder point

Question 9

Extra goods you have on hand in case of emergency or supply chain breakdown that result in lower than normal inventory availability

Answer 9

Safety stock

Question 10

A procedure that includes placing orders at predetermined intervals throughout the year

Answer 10

Fixed order interval

Question 11

Ordering seasonal or one time items.

” Newsboy Problem”

Answer 11

Single period model

Question 12

Types of inventory

Answer 12

1. Raw materials and purchase parts:
   - unprocessed items.
2. Work and process
   - refers to the items that are in various stages of productions but are not yet completed.
3. Finish goods inventories or merchandise
   - completed products that are ready for sale.
4. Maintenance and Repair (MRO) Inventory, Tools and Supplies
   - these are the items necessary for maintaining and repairing equipments facilities. Example. Lubricants.
5. Goods and transit to warehouses our customer (pipeline inventory)
   - pipeline inventory consists of goods that are entrance at between location such as from suppliers to warehouses or from warehouses to customers.