What Is the Least Expensive and Best Alternative If You

question 14

Multiple Choice

What is the least expensive and best alternative if you only have a few employees to be trained?

• A)Hiring a consultant
• B)Purchasing a pre?packaged program
• C)Implementing and designing your own training program
• D)Sending trainees to outside seminars
• E)Waiting until you have enough employees who require training,then hiring a consultant

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Definitions:

Transportation Model

A type of mathematical model used in logistics that aims to minimize the cost of distributing products from several suppliers to numerous consumers, optimizing routes and supply chains.

Aggregate Planners

Professionals who develop plans to match supply and demand forecasts for goods and services over the medium term.

Mathematical Model

A symbolic representation of real-world phenomena using variables, equations, and/or logical relationships to describe and predict behaviors or outcomes.

Stockout Cost

The cost associated with running out of stock, including lost sales, backorders, and potentially reduced customer satisfaction and loyalty.