While Doing an Analysis, Sara Realizes That Close to 80

question 59

Multiple Choice

While doing an analysis, Sara realizes that close to 80 percent of her company's revenues comes from only 20 percent of her customers. This finding substantiates

• A) the iceberg principle.
• B) the sales paradox.
• C) the 80/20 rule.
• D) the standard markup rule.
• E) the fishbone rule.

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Definitions:

MRP Tables

Tables used in Material Requirements Planning, showcasing schedules for when materials are needed in the manufacturing process to meet production goals.

Bill of Material

An exhaustive inventory of all raw materials, parts, and assemblies required to produce or mend a product or service.

Lot-For-Lot

An inventory management strategy where the order quantity is set to match the exact demand for the product, minimizing stock levels.

Lot Sizing

The determination of the optimal quantity of units to produce or order in a single batch, considering factors like demand, production costs, and storage capacity.