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