1 September 2015
Review Questions Ch.3
3.3 What are the two key components of an income statement?
Two key components are revenues and expenses.
3.4 What are the three key components of a balance sheet?
Three components are
1 November 2015
10.1 Why does warehousing exist in a supply chain?
Warehouses exist to consolidate products to make shipping to customers
easier. They allow faster shipping to customers because you can have a product
20 August 2015
Review Questions Ch. 1
1.2 Distinguish between possession, form, time, and place utility?
Possession is being able to obtain a product, form is the manufacturing of a product, time utility
is having a product
20 September 2015
Playing the beer game I learned that I need to pay a lot more attention so what I was
ordering. While playing I made the mistake of upping the order to fulfill my back orders but then
I hit submit
28 August 2015
Review Questions Ch.2
2.1 In what ways can information be helpful in logistics and supply chain management?
Information can help with communication across all levels of management. Using
information given to h
EOQ: Economic Order Quantity
Formula: EOQ = 2DB/IC
EOQ = the most economic order size, in units
D = annual demand, in units
B = administrative costs per order of placing the order
C = carrying costs of the inventory (%)
I = dollar value of the inven
24 September 2015
1. Which supplier do you recommend to the board of directors? Why?
I would recommend the higher cost equipment and I would attempt to sell them on the
benefits of going green. I would mention tha