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Exhibit 12.3 The Following Questions Use the Information Below

question 71

Multiple Choice

Exhibit 12.3
The following questions use the information below.
An auto parts store wants to simulate its inventory system for engine oil. The company has collected data on the shipping time for oil and the daily demand for cases of oil. A case of oil generates a $10 profit. Customers can buy oil at any auto parts store so there are no backorders (the company loses the sale and profit) . The company orders 30 cases whenever the inventory position falls below the reorder point of 15 cases. Orders are placed at the beginning of the day and delivered at the beginning of the day so the oil is available on the arrival day. An average service level of 99% is desired. The following spreadsheets have been developed for this problem. The company has simulated 2 weeks of operation for their inventory system. The current level of on-hand inventory is 25 units and no orders are pending.
-Using the information in Exhibit 12.3, what formula should go in cell C9 and copied to C10:C21 of the MODEL sheet to compute units received?

Recognize the importance of return on investment (ROI) and how it is calculated in social media marketing.

Identify different types of social media metrics and their significance in evaluating social media marketing success.

Understand the significance of measuring engagement and achieving brand success via social media.

Recognize the concept of opportunity cost in the context of social media strategy and its impact on resource allocation.

Definitions:

Cost Curves

Cost curves are graphical representations of the costs associated with producing varying quantities of goods, showing how costs change with changes in output.

Pure Competition

A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to price determination by market demand and supply.

Market Entry

The process by which a new competitor enters an existing market, often involving overcoming barriers to entry.