The Management of GH Apparel Has Thoroughly Analyzed the Market

question 31

Multiple Choice

The management of GH Apparel has thoroughly analyzed the market and recognizes the wants and needs of different customer groups.It takes all these findings into consideration and develops different types of goods that cater to each group.From this scenario,it is evident that GH Apparel is a ______ organization.

• A) market-oriented
• B) societal-oriented
• C) production-oriented
• D) sales-oriented

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Definitions:

Economic Order Quantity

is a formula used to determine the optimal order size that minimizes the sum of ordering, holding, and stockout costs.

Inventory Carrying Costs

The total cost associated with holding inventory, including storage, handling, depreciation, and opportunity costs.

Capital Costs

Expenses incurred to create or acquire fixed assets, such as buildings or machinery, that are used in producing goods or services.

Inventory Service Costs

Expenses associated with storing, handling, and managing inventory, including warehousing and insurance costs.