Demand is said to be Elastic when the quantity demanded is very responsive to changes in price.
What is Elasticity of Demand?Demand responsiveness to changes in other market variables is measured by demand elasticity. The price elasticity of demand, for instance, indicates how much demand will change in response to a change in a product's price.
Both elastic and inelastic demand exists. Demand that is elastic is more responsive to changes in the variables being measured against. Products that are inelastic are less sensitive to the changes being measured.
The slope of the demand curve and price elasticity of demand is directly correlated. The law of demand, which states that consumers will demand a greater quantity of goods at lower prices and a lesser quantity of goods at higher prices, was most likely covered in your very first economics course. The downward sloping of demand curves is explained by the law of demand.
Thus the Law of demand directs the elasticity of demand.
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Identify at least three ways in which kendra scott sought to differentiate itself from rival jewelry firms.
Three factors that Kendra Scott used to set itself apart from competing jewelry companies were offering a broad variety of services, being an online-only retailer, and appealing to the individual tastes of its clients.
What is retail jewelry?A jewelry store, or jewelry store in American English, is a type of retail business that focuses on buying and selling jewels and timepieces. Jewelry stores offer a wide range of services, including designing, manufacture, remodeling, and repairs. The most prevalent kind of jewelers are bench jewelers, sometimes referred to as metalsmiths, silversmiths, goldsmiths, and platinumsmiths. They are skilled in a variety of areas. Typically, they do a variety of activities, from straightforward jewelry cleaning and repair to creating molds and pieces from scratch. A jeweler is a business that manufactures, sells, and fixes jewelry and watches.
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When a company borrows from a bank by signing a formal agreement, an asset titled cash is increased and a titled is increased.
When a company borrows from a bank by signings a formal agreement, an asset titled cash is increased and a liability titled notes payable is increased.
What do we mean by debt?Debt is anything that one person owes another. Debt can be in the form of real estate, money, services, or other consideration. Debt is more strictly defined in finance as money raised through the issuance of bonds. A loan is a type of debt, but it is also an agreement in which one group lends money to another. We borrow money when we go into debt. When a business borrows from a bank and signs a formal agreement, an asset called cash and a liability called notes payable is both increased. Debt is anything that one party owes another. Credit card debt, car loans, and mortgages are all examples of debt.Therefore, when a company borrows from a bank by signings a formal agreement, an asset titled cash is increased and a liability titled notes payable is increased.
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The complete question is given below
When a company borrows from a bank by signings a formal agreement, an asset titled cash is increased and a _____ titled ______ _______ is increased.
In may, xyz company sold $400,000 worth of goods to customers on credit. in june, $80,000 was collected and in september, $320,000 was collected. how would the accounting equation be affected in june?
It purchased $80,000 of merchandise on account and collected $50,000 on account from its customers. As a result, the company's total assets would be $680,000.
The Operation of the Expanded Accounting EquationAnalysts may seek a deeper comprehension of the shareholders' equity structure of a company. Stockholders' equity is expanded into the following components in addition to the assets and liabilities that are included in the basic accounting equation:
Capital contributed: This is the money that the founding stockholders gave (also known as paid-in capital).
Beginning retained earnings: Retained earnings are the profits from the prior period that were not distributed to the stockholders.
Revenue is what the business generates as it continues to operate.
Expenses: These are the costs associated with keeping the firm operating.
Dividends: Since these are earnings that are given to the company's stockholders as dividends, they are deducted from the total.
Capital contributions and dividend payments indicate the results of interactions with stockholders.
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Ordinarily, which is the most significant audit objective and primary risk area for auditors in the examination of accounts payable?
Ordinarily, the most significant audit objective and primary risk area for auditors in the examination of accounts payable is:
Audit Objective: Completeness is the main goal of the accounts payable audit. Completeness suggests that the payable won't receive any significant future additions. Accounts payable are a significant source of operating cash flows in the drug wholesale industry because inventory turnover is very high.
Primary Risk Area:
1) Intentionally understated are expenses and accounts payable.
2) There are payments made to unsuitable vendors.
3 )Payments are made twice to vendors.
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The very first step in developing a social marketing plan involves ______________. group of answer choices
The very first step in developing a social marketing plan involves understanding the target audience.
How to Create a Social Media Marketing StrategyHaving a strategy is essential for successful social media marketing.
You risk posting on social media just for the sake of posting if you don't have a plan. It will be difficult to succeed on social media if you don't know what your objectives are, who your target audience is, and what they want.
Creating a social media marketing strategy is crucial if you want to advance as a social media marketer or expand the reach of your company on social media.
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A(n) ________ is a specialized group of consumers with a structured set of relationships involving a particular brand, fellow customers of that brand, and the product in use.
The answer is :- brand community.
A brand community is a particular kind of consumer group that has established ties with other brand users, other brand customers, and the product being used.
What exactly is a brand community?A brand community, to put it simply, is the epitome of brand loyalty. People that are emotionally invested in your brand will buy from you, read your material, spread the word about you to their friends and family, and other things. But brand awareness is not the same as a brand community. The mere fact that someone is aware of your brand or has made a purchase from it does not imply that they are a member of your engaged or even engageable brand community. Instead, your brand community consists of people who like following your brand on social media, sharing your content and products with others, and subscribing to all of your company's updates.
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Imagine that a population of meerkats exhibits exponential growth. what does this tell you about the per-capita growth rate (r) of the meerkat population?
It tells you that the rate is going to change based on the curve of the per-capita growth rate of the meerkat population.
What is the per-capita growth rate?An algebraic standard can be used to depict population growth over a period of time. They are referred to as population models. Using a model, it is frequently simple to comprehend complex population components and interactions. Population models provide a pattern that makes it possible to forecast and comprehend how an organism will expand. The age and size of the population of the organism affect the ecological model. When developing a model, the interaction with the environment is another important consideration. Ecologists employ models to predict if a species will go extinct or become endangered, helping to rescue those species. Two models—the exponential and logistic population growth models—can predict the per capita growth.
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Bakers are much likely to supply pastries to the market if property rights are enforced. True or false?.
It is false that bakers are much more likely to supply pastries to the market if property rights are enforced. Bakers are much more likely to supply pastries to the market if property rights are not enforced.
What are property rights?Property rights specify who legally and formally owns resources and how they may be used. These resources might be physical or intangible, and they can be owned by people, companies, or governments.
Private property rights, or the rights of private persons to amass, keep, delegate, rent, or sell their property, are typically exercised by individuals in various nations, including the United States.
The allocation of property rights in a community has an impact on the effectiveness of resource usage since in economics, property rights serve as the foundation for all market transactions. Individuals or small groups of people typically own property.
The use of patents and copyrights to protect the following can expand the rights of property ownership.
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____ sites are web sites that individuals and businesses use to conduct social interactions online.
Online social interactions between people and businesses take place on social networking websites.
A social networking site is an online community where users can connect with one another and build public profiles. Social networking sites typically let new users create a list of contacts they have a connection with, and those contacts can subsequently confirm or deny the link. Once connections have been made, a new user can look through existing connections to find new ones.
A social networking site is also referred to as a social website or a social networking website.
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What is a reflection of how economic factors are related to psychological influences?
Consumer confidence (and spending) is a reflection of how economic factors are related to psychological influences.
What is Consumer confidence?An economic indicator known as a consumer confidence index is released by numerous organizations across multiple nations. In layman's words, rising consumer confidence denotes economic expansion, which is accompanied by rising consumer expenditure, which denotes more consumption. Consumer confidence is a type of economic indicator that gauges how optimistic people are about both their individual financial conditions and the state of the economy as a whole. An economic indicator is consumer confidence. It evaluates how confident consumers are about the general state of the economy. It also gauges the degree of assurance people have in the steadiness of their income. Their level of confidence affects their financial choices, including their spending behavior.
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The common set of standards and procedures by which audited financial statements are prepared are called:_________
The common set of standards and procedures by which audited financial statements are prepared are called GAAP
The Financial Accounting Standards Board (FASB), an independent non-profit organization, creates the standards. Accounting standards increase financial reporting's openness across the board. The commonly used set of accounting standards for creating financial statements in the US is known as generally accepted accounting principles (GAAP).
The International Accounting Standards Board (IASB) has established the International Financial Reporting Standards (IFRS), which are used by international businesses that report financial accounts and are not subject to U.S. GAAP. In the United States, both public and private institutions frequently apply widely accepted accounting standards.
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Consider the utility function u(x, y) = 3x y, with mux = 3 and muy = 1. is the assumption that more is better satisfied for both goods?
Yes, the assumption that more is better satisfied for both goods for the given utility function.
What is utility function?Utility in economics involves satisfying or pleasure which consumers receive from consuming a product or service. The utility function assesses consumers' desires for a specific set of goods and services.
Utility is measured in utils (the Spanish word for useful), but trying to calculate the benefit or satisfaction received by consumers is abstract and complicated to pinpoint. As a consequence, economists measure utility by observing consumer choices in light of revealed preferences. Economists then create a ranking of usage baskets from least wanted to most preferred.Ordinal utility ranks options based on choice, whereas cardinal utility tests the utility gained from a decision.Now, as per the question;
[tex]M U_x=\frac{\delta u}{\delta x}=[/tex] 3 > 0
Thus, MUx > 0.
Similarly,
[tex]M U_y=\frac{\delta u}{\delta y}=[/tex] 1 > 0.
Thus, MUy > 0.
Therefore, MUx and MUy both are greater than zero, implying that more is more satisfying for both goods.
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The correct question is-
Consider the utility function U(x, y) = 3x + y, with MUx = 3 and MUy = 1. a) Is the assumption that more is better satisfied for both goods?
Telling the truth consistently is considered an important trust builder for leaders. true false
Consistently speaking the truth is regarded as a crucial element in developing trust among leaders. true
Truth has the quality of conforming to fact or reality. Truth is often given in ordinary language to things like beliefs, assertions, and declarative sentences that attempt to describe reality or else conform to it.
Typically, truth is thought to be the polar opposite of untruth. In a variety of domains, including philosophy, art, theology, and science, the idea of truth is examined and contested. The majority of human activities, including most of the sciences, law, media, and daily life, rely on the concept, with its nature as a concept being assumed rather than being a topic of dispute.
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Smokey company purchases a one-year insurance policy on july 1 for $13,308. the adjusting entry on december 31 is?
On July 1, Smokey Company pays $13,308 for a one-year insurance contract. Debit Rent Expense, $8,000; credit Prepaid Rent, $8,000; this is the adjusting entry for December 31.
What is insurance policy?An insurance contract, represented by a policy, provides financial protection or reimbursement from an insurance company in the event of a loss to the policyholder. In order to lower costs for the insured, the company pooled the money from its customers.
Plans for insurance are designed to guard against the possibility of both significant and minor financial losses brought on by damage to the insured's property or person, or by liability for injuries or damages to a third party.
An insurance policy is a contract that an insurer enters into to reimburse another party for losses brought on by particular risks or occurrences.
There are several varieties of insurance. The four most common types of insurance are life, health, home, and auto.
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Sana gill deposited $3,500 into a new business checking account to begin her new bookkeeping firm, gill bookkeeping. this business transaction would:__________
Sana Gill deposited $3500 into a new business checking account to begin her new bookkeeping firm, Gill Bookkeeping. This business transaction would increase the company's cash, and increase Sana Gill's Capital.
A business transaction is what?A financial exchange of commodities, money, or services between two or more people is referred to as a business transaction. A commercial exchange must have a measurable monetary value in order to be considered a transaction for accounting purposes. Business dealings will have an impact on the company's finances.
A long-term service contract might be as complicated as a business transaction, or it can be as simple as a cash purchase. The following requirements must be met for a transaction to qualify as a commercial transaction:
The deal can be valued financially.The company and the third party engage in the transaction.The deal is made on behalf of the company and not for a person's personal benefit.To know more about "Business transaction" , visit : https://brainly.com/question/19512243
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Journal entries for materials used in production are posted to:________
By debiting the working in process account, the manufacturing overhead account, and crediting the raw materials inventory account in the job order costing, the business can record the materials utilized in production.
What Exactly Is an Accounting Journal Entry?The date, the amount to be credited and debited, a brief description of the transaction, and the accounts affected are all included in each journal entry along with other information pertinent to a single business transaction. Depending on the business, it could include a list of the impacted subsidiaries, tax information, and other details.
In order for the general ledger and financial reports based on this information to be accurate and full, it is essential to accurately and completely input journal data. Recurring journal entries can be automated and templated in today's accounting software, reducing the possibility of error.
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Each row of the production possibilities schedule illustrates the amount of a good or a service that may be produced, given the production of the other. True or false?.
This is a Firm and True Statement.
Each row of the production possibilities schedule illustrates the MAXIMUM amount of a good service that may be produced given the production of the other.
A production possibilities schedule demonstrates the fundamental economic principle of opportunity cost, which states that the economy must forgo producing one thing in order to create another. The incredibly helpful production possibilities curve is likewise derived from a production possibilities schedule (or frontier)What is an example of a production possibility?The trade-off between manufacturing one good vs another is gauged by the production possibilities curve. Consider a scenario in which a country produces 120,000 apples and 20,000 oranges. That is the point B on the diagram. It must produce fewer apples if it wishes to grow more oranges.To learn more about production possibilities schedule, click the links.
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If the economy is operating at point c, the opportunity cost of producing an additional 15 units of bacon is.
If the economy is operating at point c, the opportunity cost of producing an additional 15 units of meat is 20 units of eggs.
Opportunity cost is a theory that arises from scarcity, as well as unlimited human needs and wants. Therefore, opportunity costs usually occur when humans are faced with two or more choices.
In addition, it is important to understand the concept of opportunity cost because there are several reasons as follows.
Sharpen decision-making skillsIt's wiser to accept the riskForming more positive thoughtsHelp plan a better futureExamples of Opportunity Costs in Daily Life
For example, a person only has 15 dollars. However, he was faced with a choice, namely, to buy fried chicken rice or a boba drink. He can only choose one of the two menus because the money he has is limited. In the end, he chose to buy a boba drink, so he missed the opportunity to eat fried chicken rice.
The picture above is the concept of applying opportunity cost in everyday life. Essentially, any of these opportunity costs must be profitable.
When viewed in terms of cost, the choice of the lowest load or the lowest cost will be an alternative cost. Meanwhile, when viewed in terms of production, choose which sector is able to produce more products than others.
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In the role of ______, managers seek to improve their businesses, adapt to changing market conditions, and react to opportunities as they present themselves.
In the role of entrepreneur, managers seek to improve their businesses, adapt to changing market conditions, and react to opportunities as they present themselves.
Managers who play the part of entrepreneurs work to make their companies better, adjust to shifting market conditions, and take advantage of opportunities as they arise.
Implementing strategies for bringing about change, managing change, and assisting people in adapting to change is the goal of change management.
A manager is responsible for tasks like staffing, directing, controlling, and planning. All of these tasks are crucial for successfully managing an organization and accomplishing corporate goals. Setting goals and developing techniques for synchronizing activities both involve planning.
Managerial positions that require managers to make thoughtful, timely judgments for the benefit of the organization are known as decisional roles.
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The maximum fine for driving and drinking an alcoholic beverage is:________
a. $200
b. $50
c. $1,000
d. $500
The maximum fine for driving and drinking an alcoholic beverage is 1000$
Therefore, the correct option is C. $1000
Alcoholic Beverage Punishments
Alcoholic Beverage
DUI, also referred to as Alcoholic Beverage, is a form of moving violation that happens when a driver is under the influence of alcohol or another dangerous substance. If someone is caught driving after drinking, they may face jail time, fines, or a suspension of their license.
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A form of ownership wherein several buyers purchase undivided interests in real property with a right to use that property for a specific period is called a?
A form of ownership wherein several buyers purchase undivided interests in real property with a right to use that property for a specific period is called a timeshare.
What does California's legislation on subdivided land serve?The primary goal of the Subdivided Lands Act, a consumer protection law, is to guarantee that proper disclosures are given. The California Department of Real Estate interprets and applies the Subdivided Lands Act, which governs public offers of land in subdivisions for sale or lease.
In order to ensure that new development occurs in a timely manner and that services like roads, utilities, open space, and other services are adequately provided, the California Subdivision Map Act grants local governmental agencies the authority to regulate and control the design and improvements of subdivisions.
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The typical purchase involved in an organizational buying exchange is ________ that in consumer buying.
The typical purchase involved in an organizational buying exchange is larger in size than that in consumer buying for the business.
What does organizational buying exchange mean?The expression 'organizational buying exchange' makes reference to the purchase process associated with the obtention of any type of good/service in an organized manner, which depends on geographical concentration and the presence of different types of channels for distribution.
In conclusion, the typical purchase involved in an organizational buying exchange is larger in size than that in consumer buying for the business.
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Based on the limited amount of information provided, what would you guess is the social style of the buyer? how about the social style of the seller? explain your reasoning
Customer social style refers to the method customers use when interacting.
In terms of personality, communication style, behavior, mental processes, and decision-making methods, customers differ.
Who is a Customer ?A person who purchases goods or services from a shop, eatery, or other retailer is referred to as a customer.
A customer is any person or organization that makes a purchase from another firm. Customers are essential to businesses because they provide revenue; without them, they could not run.
No matter what industry you are in or what kinds of goods and services you provide, your clients are the most important component of your organization. Without the customer, there are no sales. As a result, they are essential in developing your marketing strategy and messaging.
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Consider a population with 100 cats. if 72 cats are black and 28 are white, what is the phenotypic frequency of black cats?
The phenotypic frequency of black cats 0.72
How do we calculate Phenotypic Frequency?To compare different phenotype frequencies, the relative phenotype frequency for each phenotype can be calculated by counting the number of times a particular phenotype appears in a population and dividing it by the total number of individuals in the population.The phenotypic black cats are 72
The total population is 100
Phenotypic frequency = counting the number of times a particular phenotype appears in a population / total number of individuals in the population.
Now,
Phenotypic frequency = 72/100
Phenotypic frequency = 0.72
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The maximum amount a policy will pay in the event of a loss, regardless of the number of insureds, claims made, lawsuits filed, or parties making claims is the:_________
The policy limit is defined as the maximum amount that an insurer will pay under a policy for a covered loss.
These policy limits will be set according to the period (e.g., annual or policy term), according to the loss or injury, or over the life of the policy. If the policy limit is payable over the life of the policy it is called the lifetime maximum. This differs according to the insurance but mostly higher limits carry higher premiums.
For a general life insurance policy, the face value will be the maximum amount that the insurer will pay. This amount refers to the monetary amount in relation to a specific insurance claim. For example, the policy for car insurance may have a policy limit of $1 million. These amounts are agreed upon by the way of drawing up contracts between the parties.
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Period costs are? a. always recorded as an expense when incurred. b. expensed only when the inventory is sold. c. always considered part of the inventory.
Period costs are always recorded as an expense when incurred. So the correct option is A.
In accounting, expenses refer to the money spent or costs incurred by a company in an effort to produce revenue. Therefore, expenses are the cost of running a business in accounting, which includes the total of all the actions that will ideally result in a profit for you. There are many different ways that expenses can be defined in accounting.
The financial charges a company faces throughout operations in order to generate revenue are referred to as expenses.
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By definition, ________ pricing is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differences in cost.
By definition, Segmented pricing is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differences in cost.
What is Segmented Pricing?Regardless of whether a product's production and distribution costs are the same, segmented pricing is said to be used when a corporation fixes or sets more than one price for it.
There are several methods for price segmentation:
Seasonal Pricing: Holidays and high travel times raise the price of hotel rooms.
Product/Service Characteristics: In trains, a reservation in a sleeper non-air-conditioned compartment is less expensive than one in a first-class air-conditioned one.
Geographical Locations: Prices of goods are higher and vice versa in places or regions where consumers are less price sensitive.
The cost parameters must be considered while segmenting the market. A regular evaluation of the product's perceived worth is also necessary, and it is important to make sure that this activity never harms the brand's reputation.
Thus, It is the Price segmentation that is mentioned here.
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A d-snp member loses his eligbility due to a change or loss of medicaid status. what cost sharing is he responsible for while in teh grace period?
A DSNP member loses his eligibility due to a change or loss of Medicaid status. He is responsible for All, such as premiums, deductibles, copayments, and coinsurance.
What is DSNP?Coordinating their healthcare with both Medicare and Medicaid services can be challenging for the millions of Americans who are dual-eligible for healthcare benefits. As a result, Medicare Advantage offers Special Needs Plans, which give you a practical option to coordinate your medical needs under a single plan. Dual-eligible Special Needs Plans, or SNPs, are a category of Special Needs Plans that permit enrollment by those with dual eligibility.
For beneficiaries who have both Medicare and Medicaid coverage, there are specialty Medicare Advantage plans known as DSNPs. Health Maintenance Organization (HMO) or PPO plans are the two categories that most DSNPs fall under (Preferred Provider Organization plans).
In some jurisdictions, but not all, DSNPs are accessible through specific private insurance providers. Federal law mandates that these plans offer all of Original Medicare Part A's (hospital insurance) and Part B's (medical insurance) benefits. Individual states, however, have jurisdiction over what extra benefits providers may offer as part of the DSNP.
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It is said that kone is embedding intelligence across its supply chain and enables smarter buildings. explain.
KONE started the next stage of its strategy, Sustainable success with consumers, in January 2021. With innovative intelligent solutions, we will increase the value we provide for clients during the four-year strategy term and further integrate sustainability into all of our activities.
Core goods and services: through connectivity and adaptability, they meet the unique demands of each client for a seamless experience. All goods and services shall be made as cost-effective and environmentally friendly as possible.
In order to provide customers with value in new ways, new customer value solutions are being developed and integrated with existing core products and services.
Smart and sustainable cities: become the go-to partner for the construction of smart and sustainable cities.
In this extremely fragmented and fast-growing economy, the service industry in China is becoming the undisputed market leader.
Core values and concepts form the foundation of our culture. We never err on the side of our core values. They consist of sustainability, quality, and safety. The core of our culture is comprised of our values, which stand for the attitudes and actions that KONE wants to encourage.
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how each of the five basic functions in the supply chain operations (scor) model improves the customer experience.
The SCOR model categorises and splits the supply chain into ideal business operations. This uniform framework makes it possible to analyse all informational, monetary, and product flows across all companies in the value chain. Companies can make long, medium, and short-term plans, improve the effectiveness and efficiency of their supply chain management and compare and coordinate the activities between suppliers, manufacturers, and customers based on data analysis.
The functions are as follows: -
Plan: To enhance efficiency, the best practices of the five core processes (plan, source, manufacture, deliver, and return) are analysed while taking inventory, transportation, regulatory requirements, and resources into account. Business objectives are also matched with supply and demand.
Procure: Purchase, reception, testing, and provision of raw materials are all factors that go into the procurement of products and services, as well as the demand for and availability of such items.
Manufacture: Creating products that are market-ready through production planning, manufacturing, quality assurance, packaging, and demand forecasting.
Delivery: All actions taken in connection with placing an order, moving items, managing storage facilities and distribution and delivering finished goods and services.
Return: Customer service and suppliers handle any form of return and disposal of goods.
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