The supplier relationship like when the vendor is viewed as an partner is openness and sharing of strategic and tactical information readily occurs.
A partner becomes an extension of your company, as opposed to a vendor who only supplies a given item or service. A corporation may have a limited number of IT, staff employees, with expertise in particular technological areas and little time to devote to enhancing the internal team members' skill sets.
To specify each business partner's obligations and rights in a commercial transaction, use partner functions. When you make a master record for a business partner, you may attach partner functions to that record.
The given question is incomplete, the complete question is:
What is the supplier relationship like when the vendor is viewed as an partner?
One or few number of suppliers
Price is moderately important but flexibility is very important
Openness and sharing of strategic and tactical information readily occurs.
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the answer is d because they really don't
want anyone having under a 3.0
Answer:
b. a 20% decrease in the price of foreign travel will increase the quantity demanded by 80%.
Explanation:
A price elascitiy of 4 means demand is elastic. Price elasticity greater than 1 indicates demand is elastic.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Elastic demand is when a change in price leads to a change in quantity demanded.
If price increases and demand is price elastic, the quantity demanded falls.
If price falls and demand is price elastic, the quantity demanded rises.
If price elasticity is 4, 20% decrease in the price of foreign travel will increase the quantity demanded by 80%.
Inelastic demand is when price elasticitiy is less than 1.
I hope my answer helps you
The effect of the demand and supply chain can be seen in the highly volatile nature of the music industry.
Explanation:
The principles are highly accurate for many industries that are given in the article "The Effect of Price on Number of Suppliers."
This is effectively about the demand and supply chain and one can see how this applies to the people in the music industry who have to deal with these overhauls.
The industry is largely volatile and there are trends that come and go in a couple of years and with them go away whole labels and and artist.
The people who survive are the ones that adapt and do not go all in on one trend or another.
This one can even see in other business practices.
Answer:
$32,000
Explanation:
Cost of goods sold refers to all direct expenses incurred in producing goods and excludes all selling and indirect costs.
Cost of goods sold = Sales value - Gross Profit
Gross profit = Sales value - Direct costs - overhead costs
Gross profit per unit = $120 - ($50 + $ 20 + $10)
Gross profit per unit = $40 per unit
Gross profit in value = $40 per unit × No of units = $40 × 400 units = $16,000
Budgeted sales value = Selling price per unit × Budgeted sales units
= $120 × 400 chairs = $48000
Thus, budgeted cost of goods sold = Budgeted sales value - Gross Profit in value
= $48000 - $16000 = $32000
<u>Note</u>: While computing gross profit, selling and administrative expenses would be excluded since those are used while computing net income. Also, cost of goods sold excludes selling and administrative i.e . indirect costs.
