What Is the First Step in the Collective Bargaining Process

question 5

Multiple Choice

What is the first step in the collective bargaining process?

• A) voting and ratification
• B) debating
• C) preparing for negotiations
• D) a meeting between labour and management

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Definitions:

Lead Time

The period of time from order placement until the goods are received.

Inventory Needs

The required quantity and type of goods a business needs to have on hand to meet customer demand and maintain smooth operations.

Bulk Ordering

Involves purchasing large quantities of goods or materials, typically to gain economies of scale and reduce per-unit cost.

Backorders

Orders for goods or services that cannot be filled at the current time due to lack of available stock, and are therefore waiting to be fulfilled.