Nike Is an Example of a Manufacturer Using Information Systems

question 49

Short Answer

Nike is an example of a manufacturer using information systems to create products and services that are customized and ________ to fit the precise specifications of individual customers.

Understand the importance of standard costing in budgeting and financial planning.

Recognize situations where direct labor variances are applicable or not.

Analyze the causes of material and labor variances to identify potential operational improvements.

Understand and calculate various labor variances, including direct labor rate and time variances.

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Definitions:

Demand/Supply Uncertainty

The unpredictability in the quantity demanded or supplied in the market due to various factors like market trends, seasonality, or production issues.

Strategic Fit

The alignment between an organization's strategies and its internal capabilities and external environment to ensure maximum efficiency and competitive advantage.

Functional Area

Represents a specific department or section within an organization, focusing on a particular set of tasks or responsibilities.

Lowest Cost

The minimum expense necessary to achieve a specific objective, often considered in decision-making processes.