Bishop Manufacturing Is Implementing an Economic Order Quality (EOQ) Inventory

question 67

Essay

Bishop Manufacturing is implementing an economic order quality (EOQ) inventory control system and needs a good estimate of the cost to process a purchase order (PO).It takes 5 total labor hours to process a PO.The average number of SKUs on a PO is 2.2.The average wage for people working in the purchasing department is $22 per hour plus employee benefits of $3 per hour.Fixed costs for the purchasing department are $250,000 per year assuming a 2,000 hour per employee per year work week.Given this information a good estimate of the cost to process one purchase order is

Recognize how to apply and modify SmartArt graphics and styles.

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Know how to apply and modify specific visual effects (such as shadows, reflections) to text and objects.

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Definitions:

CRM Solution

A technology for managing all a company's relationships and interactions with current and potential customers to improve business relationships.

Redundancies

Extra components or functions within a system that are there specifically to back up the primary components in case of failure.

Inconsistencies

Discrepancies or lack of agreement in data, statements, or findings that may indicate errors or the need for further investigation.

CRM Operation

The activities and processes undertaken by an organization to manage and analyze its interactions with customers through the lifecycle, aiming to improve customer relationships.