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Acc 300

Terms

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BLIND PURCHASE ORDER
3.) Receiving and storing goods BY: Receiving Department leave quantity blank to fill in
EOQ Economic Order Quantity
1.) REQUESTING GOODS *Traditional Control Method *keep a reserve on how much inventory u need at all times -Stockout -Ordering -Carrying
Ordering costs
what it costs to place order
Carrying Costs
What it costs to keep this extra inventory to stor
Stock out
cost of lost sales
Supply Chain Management
links manufacturers, retailers, customers and suppliers
MRP Material Requirements Planning
Lets keep an inventory on hand by forcasting based upon an estimate on what customers need/will buy *carry (-) level of inventory *predetermined *push
JIT Just in time
i dont aquire my inventory until absolutely need it *based upon reality *Pull *unpredictable/shortline cycle
PCAOB
oversee auditing profession
Real time
how info is updated in sales collection
Product Design
65%-80% of all product costs are determined

Deck Info

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