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

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Definitions:

Adaptive Leadership

A leadership approach focused on encouraging adaptability, flexibility, and responsiveness to changing situations or challenges.

Supportive Leadership

A leadership style characterized by providing emotional and moral support to employees, encouraging a positive and inclusive work environment.

Participative Leadership

A leadership style where the leader involves team members in the decision-making process, valuing their input and fostering collaboration.

Transformational Leadership

A leadership style where leaders inspire and motivate employees to exceed their own interests for the sake of the organization and encourage innovation.