​A Small Candy Company Specializes in Handmade Chocolates

question 23

Short Answer

​A small candy company specializes in handmade chocolates. In one hour, one employee made 7 1/3 pounds of chocolates, another employee made 8 4/5 pounds, and a third employee made 7 1/4 pounds. Compute the total number of pounds the three employees made together.

Differentiate between scorecards, key performance indicators (KPIs), and indexes, and understand their roles in performance measurement.

Grasp the importance of aligning logistics and supply chain metrics with corporate strategy for achieving service quality, efficiency, or low-cost objectives.

Understand financial metrics and calculations relevant to supply chain and logistics, such as Gross Margin, Strategic Profit Model (SPM), and Earnings Before Interest and Taxes (EBIT).

Distinguish between metric, measure, and index, and understand the concept of order cycle time (OCT) and its implications.

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Definitions:

Reasonably Fit

A measure of whether a product meets the ordinary purposes it is intended for, based on what a reasonable person would expect.

Ordinary Purposes

The normal and expected use of a product or service as intended by the manufacturer.

Merchantable Food

Food products that meet the minimum quality standards set by law, making them fit for sale or consumption.

Fit to Eat

Safe and suitable for consumption as food without posing any health risk.