Which of the Following Is Not True Concerning a Sponsor

question 30

Multiple Choice

Which of the following is not true concerning a sponsor?

• A) the sponsor should be able to advise you on whom to contact within the organization
• B) the sponsor should be well respected by the director of the organization
• C) the sponsor should be familiar with the formal and informal statuses of various personnel within the organization
• D) the sponsor should introduce you to the organization and leave

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Definitions:

Ordering Costs

The expenses associated with the process of requisitioning, purchasing, and receiving goods and services; includes costs of paperwork, communication, and inspections.

Maintaining Inventory

Activities and strategies involved in keeping an appropriate level of stock to meet demand without incurring excessive holding costs or stockouts.

Shrinkage

The loss of inventory that can result from theft, damage, or errors in the inventory management process.

Production Order Quantity Model

A mathematical model used in operations management to determine the optimal order quantity that minimizes total inventory costs.