Time-Based Approaches of Business Organizations Focus on Reducing the Time

question 48

Multiple Choice

Time-based approaches of business organizations focus on reducing the time to accomplish certain necessary activities. Time reductions seldom apply to:

• A)product/service design time.
• B)processing time.
• C)delivery time.
• D)response time for complaints.
• E)internal audits.

Comprehend the Economic Order Quantity (EOQ) model and its role in minimizing inventory costs.

Explain the concept and calculation of reorder point in inventory management.

Assess how various factors influence the length of the credit period offered by a firm.

Understand how accounts receivable management theories support credit decisions.