You Have Recently Been Promoted to the Position of Manager

question 83

Essay

You have recently been promoted to the position of manager at your business.While you have been doing nonmanagement functions,you will now be called on to complete three new managerial actions.What are they and how will you accomplish them?

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Definitions:

Ordering Costs

Expenses incurred in placing and receiving orders from suppliers, including costs related to the processing and handling of orders.

Carrying Costs

The total cost of holding inventory, including storage, insurance, taxes, and opportunity costs, among others.

Annual Ordering

Refers to the total cost and process associated with placing orders for goods or materials over the course of a year.

Gadgets

Small mechanical or electronic devices or tools, especially those that are ingenious or novel.