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Which commodity sourcing strategy offers the clearest opportunities for an integrated joint sourcing relationship with suppliers?
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How would suppliers react to a price increase for a product?
Suppliers supply more of the goods as and when prices of that commodity increases.
Law of supply?
The law of supply is the tendency of suppliers to offer more of a good at a higher price. There is direct relationship between the price of a commodity and its quantity offered for sale over a specified period of time. When the price of a goods rises, other things remaining the same, its quantity which is offered for sale increases as and price falls, the amount available for sale decreases. This relationship between price and the quantities which suppliers are prepared to offer for sale is called the law of supply. Formula for Law of Supply: QxS = Φ (Px Tech, Si, Fn, X,........) Qxs = Quantity supplied of commodity x by the producers. Φ = Function Px = Price of commodity x. Tech = Technology. S = Supplies of inputs. Fn = Features of nature. X = Taxes/Subsidies. Where Tech, Si, Fn and X are constant
How does the market determine the price and the quantity supplied in demand?
it depends upon the demand of the people.... if demand of a particular commodity increases then the supply will automatically increase and in case of shortage, the suppliers would raise the prices of that specific good.
What will happen to the supply curve when the government imposes heavy indirect taxes and puts price control on a commodity?
the supply curve will fall if heavy indirect taxes are imposed. A price will worsen the burden of suppliers which force them to cut the supply of goods.
What is the aggregate supply curve?
A graphical relationship of the total amount of final goods and services that suppliers are willing and able to produce at a given price level.
Which two commodity strategies offer clear opportunities for joint improvement efforts with suppliers?
l
How would suppliers react to a price increase for a product?
Suppliers supply more of the goods as and when prices of that commodity increases.
Who are the various participants in the integrated marketing communications process?
advertiser agency media suppliers audience
Define highly collaborative relationship with select suppliers?
a collaborative relationship is where there is a a good supplier/buyer relationship
Australia and New Zealand are being integrated into the Pacific Rim economy principally as suppliers of?
Raw Materials
What are suppliers?
Suppliers are business entities who mainly support other business entities by means of supplying a particular commodity or service to the said business that they are in contract with. These suppliers, in particular, generate products and commodities that other businesses needs in terms of selling. Suppliers are the first hand creator or products and services that most businesses also offer.
Law of supply?
The law of supply is the tendency of suppliers to offer more of a good at a higher price. There is direct relationship between the price of a commodity and its quantity offered for sale over a specified period of time. When the price of a goods rises, other things remaining the same, its quantity which is offered for sale increases as and price falls, the amount available for sale decreases. This relationship between price and the quantities which suppliers are prepared to offer for sale is called the law of supply. Formula for Law of Supply: QxS = Φ (Px Tech, Si, Fn, X,........) Qxs = Quantity supplied of commodity x by the producers. Φ = Function Px = Price of commodity x. Tech = Technology. S = Supplies of inputs. Fn = Features of nature. X = Taxes/Subsidies. Where Tech, Si, Fn and X are constant
Name five opportunities to maintain contact with customer and suppliers?
One opportunity that businesses have to maintain contact with customers and suppliers is to give away calendars each year. Other opportunities include sending out special emails about events, postal mail about sales and discounts, hold open house events, and meet with supplies periodically.
How could you identify and take up opportunities to maintain regular contact with customers and suppliers?
One strategy is to make sure that your suppliers and customers are happy. After a customer makes a purchase you can follow-up with them to see if the product meets their needs.
How would you reveal the importance of maintaining good relationship with suppliers in a JIT system?
A good and long-term relationship between organization and its suppliers helps to manage a more efficient process in inventory management, material management and delivery system. It will also assure that the supply is stable and available when needed.Important thing about just-in-time inventory practice is that companies should build trust and have good relationship with their suppliers because just-in-time practice requires stable, fast and flexible supply of materials. Only if they have good relationship can this be done.
How does the market determine the price and the quantity supplied in demand?
it depends upon the demand of the people.... if demand of a particular commodity increases then the supply will automatically increase and in case of shortage, the suppliers would raise the prices of that specific good.
What might be the advantage of building a relationship with one or two suppliers of office equipment rather than with many?
you only need two not many
