It Is Necessary to the Creation of an Express Warranty

question 10

True/False

It is necessary to the creation of an express warranty that the seller use formal words such as "warrant" or "guarantee."

---

Definitions:

Excess Inventory

Inventory that exceeds the optimal level, often leading to additional storage costs and potential obsolescence.

Aggregate Plan

A strategic framework used in production and operations management to determine the necessary production levels, inventory, and workforce to meet anticipated demand.

Capacity

The maximum amount that something can contain or accomplish, such as production capability within a given period.

Aggregate Plan

A production planning method that aims to establish overall output levels and inventory policies over a medium-term horizon to meet forecasted demand.