A Collection of Companies Decides to Work Together for a While

question 41

Short Answer

A collection of companies decides to work together for a while to provide service for what they see as a short term window of opportunity. These firms plan to coordinate their activities by deploying sophisticated information systems to share critical data. Each of these companies is skilled at one or two core activities - design, manufacturing, distribution, marketing, and so on. This association of companies can be described as a(n)________.

Calculate and analyze inventory turnover ratios and days' sales in inventory.

Understand just-in-time (JIT) manufacturing techniques and their impact on inventory management.

Apply basic concepts of internal control systems relevant to manufacturing operations.

Understand the principles and benefits of constructive criticism and specific behavioral change requests.

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Definitions:

Purchasing Power

A measure of the amount of goods and services that can be purchased for a specific amount of money.

Segmenting Markets

The method of segmenting a wide market of consumers or businesses, which typically includes both current and prospective customers, into smaller groups according to common traits they share.

Specialty Cake Shop

A bakery that focuses primarily on creating and selling unique or custom cakes for special occasions.

Baked Goods

Featured food products made from ingredients such as flour, sugar, and butter, that are typically cooked by baking.