6. The purchasing document should also specify when payment is due. This is usually expressed as anet number of days, such as Net 30 or Net 45. A discount period may be included where the supplierspecifies the amount of the discount as well as the number of days the buyer can make payments andstill earn the discount. The discount period is often expressed as a formula: 2/20 Net 45Explain the payment terms of 2/20 Net 45.

Payment conditions or terms specify how, when, and how your customers or clients will pay your…

Answered: 6. The purchasing document should also…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Similar questions

You have just started to work in the purchasing office of a major pharmaceutical firm. The purchasing manager has asked you to assist in writing an RFP for a major purchase. The manager gives you a sheet detailing the specifications for the RFP. While reading the specifications, you realize that they have been written to be extremely favorable to one bidder. How should you handle this situation?
Pls solve this question correctly instantly in 5 min i will give u 3 like for sure
Discuss arguments for and against setting high discount rates.
Corporations and public bodies often define procurement processes intended to promote fair and open competition for their business while minimizing risk, such as exposure to fraud and collusion. Select one: O 1. True O 2. False O 3. Both A and B O 4. All of the above
“A buyer should not only be concerned with negotiating the reduction of price with a potential supplier, other aspiration points and issues that may require negotiations in order to reach satisfactory settlement could relate to product quality, date of delivery, free delivery up to buyer’s end, reduction in packing charges, higher trade discount on bulk purchases, seeking maximum co-operation of the supplier, or even removal of obstacles that could arise in future etc.” That is to say, the fundamental drivers of carrying out negotiations are due to our basic needs, wants, and motivations. As the procurement role evolves from transaction-based into more of strategic partnership with suppliers, negotiation and management skills have become increasingly important. Hence, to have effective negotiation with suppliers, the skills employed by procurement professionals need to be broadened. a) What does the term negotiation generally mean? b) In more specific terms, what does negotiation in…
What are the consequences for ensuring that each of the many sponsoring firms receives the maximum possible return?
Suppose that an employee at a coffee shop is willing to work 30 hours per week when she is paid $10.00 per hour. When she is offered a raise to $16.00 per hour, she is willing to work 40 hours per week. Her price elasticity of supply is (Note: use the midpoint method and give your answer to two decimal places.)
In London stock exchange company with some of its assets are under lease contracts. Examine withanalytical examples how those company treated lease contract in their financial statements before and after adopting IFRS16 also determine how the company's EBIT, EBITDA AND DEBT/EQUITY RATIO have been impacted by adopting IFRS 16
If a product in question has an insignificant cost, it might not be worth the trouble to trace the cost of that item to a particular cost center, and that item would be considered indirect. If the cost of tracing the cost of that item is high in relation to the benefits received from tracing it, the item would likely be considered as indirect material. If the design of the manufacturing process easily permits all the items to be traced to a single type of cost center, then it would be easy for a company to consider that material to be direct. Overall, the direct/indirect classification is decided on a cost/benefit basis. In your response to this discussion, state why is it possible that a raw material such as glue might be considered as an indirect material for one furniture manufacturer and as a direct material for another furniture manufacture? Also for this discussion, what are the differences between direct costs and indirect costs? Give an example of each.
1. How do you price physiological, is it low, moderate or high? please explain briefly your answer. 2. How do you price sociological, is it low, moderate or high? please explain briefly your answer. 3. How do you price psychological, is it low, moderate or high? please explain briefly your answer. 4. How do you price life-cyclical, is it low, moderate or high? please explain briefly your answer.
33. Two offers were received by the broker at the same time, what action must the broker take? о Only present the offer with the least number of contingencies. О Only present the highest offer. Wait 24 hours for more offers to come in and present them all together. О Present both offers to the seller.
Demonstrate how the product life cycle, competition,distribution and promotion strategies, customers demands,the internet and extranets and perceptions of quality can affect price.

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS