Internal Customers Are the Most Important Source of Valuable Performance

question 113

True/False

Internal customers are the most important source of valuable performance information for both developmental and administrative purposes.

---

Definitions:

Economic Order Quantity Model

An inventory control technique that minimizes the total of ordering and holding costs.

Quantity Discounts

Reduced prices offered to customers who purchase goods or services in large volumes or quantities.

Setup Cost

The expenses incurred to prepare a machine, process, or system for a particular production run or for the delivery of a service.

EOQ

The Economic Order Quantity is a formula used to determine the optimal order quantity that minimizes total inventory costs, including ordering and holding costs.