Describe What PAT Is and How It Works

question 15

Essay

Describe what PAT is and how it works.

Learn the implications of employment laws such as the Civil Rights Act of 1964 and the Age Discrimination in Employment Act (ADEA) on the interviewing process.

Appreciate the value of non-discriminatory practices and equal opportunity in the selection process.

Understand how to use information volunteered by an applicant that may otherwise be off-limits.

Recognize the importance of follow-up with all interviewees and how to communicate post-interview decisions.

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Definitions:

Stockout

A situation where inventory is exhausted, and a product is unavailable for sale or delivery, potentially leading to lost sales and customer dissatisfaction.

Cost of Understocking

The financial loss or missed opportunity cost incurred when inventory levels are too low to meet demand.

Holding Cost

The expenses associated with storing unsold goods or materials, including warehousing, insurance, depreciation, and opportunity costs.

Replenishment Lead Time

Defines the period between placing an order for stock and its delivery, impacting inventory levels and the ability to meet customer demand.