18.104.22.168. Expenditure Cycle The expenditure cycle is a recurring set of business and related information processing operations associated with the purchase of and payment for goods and services. The expenditure cycle was focused on the acquisition of raw materials, finished goods, supplies, and services. 1. Ordering materials, supplies and services This activity was focused in ordering inventory, supplies, or services that involves identifying what, when, and how much to purchase, and then choosing from which supplier to purchase 2.
Individual Assignment: Two Different Types of Business Transactions Student’s Name Institution Affiliation Individual Assignment: Two Different Types of Business Transactions A business transaction is a commercial activity involving an exchange of either goods or services for money or commodities between a business and its customers. Consequently, depending on the nature of the transaction, two or more people may be involved. Therefore, understanding various types of operations, including service and product, allows ventures to create a sustainable basis for making future decisions. Considering the type of the service transaction, it entails the exchange of services for money. For instance, the tourism industry in the United
This paper indicates how this strategy improves the hotel’s sales. According to Lo Hyunjung Im Chen and Qu (2017), customer satisfaction in the hotel is defined an evaluation based on the total purchase and consumption experience with a good or service over time or the customer has emotional movement to notice difference between performance and service provided and expectations. Steven, Dong and Dresner (2012) discussed that the reason
The organizations who involved in the supply chain are suppliers, manufacturers, distributors, retailers. Besides, transporters, warehouses, and more also contributes to the network. These organizations carry out functions such as new product development, marketing, operations, distribution, finance, and customer service. (Chopra, Sunil & Peter Meindl 2004). The network is connected when customers order a product from retailers, the retailers then order from distributors, and distributors order from manufacturers, and manufacturers get raw materials from suppliers.
Cost budget/structure The key factors that influence the warehousing decision include of operating cost, initial investment, cost control, risk, tax advantages, and economies of scale, consolidation of shipments, storage and handling (Tulsian, 2009:36). On contrary, Stock and Lambert (2001:394) pointed out that the key ingredients behind effective warehousing rests on time, quality, asset productivity and the involvement of management in developing a new kind of workforce to enhance warehouse
For example, supply chain strategy selects from where and how, how much, raw materials to be procured, mode of transport to and from the company, distribution of the products and more. Moreover, supply chain strategy comprises of design decisions regarding inventory, facilities, transportation and information flows. Supply chain strategy may also be known as logistics strategy, operations strategy, and supplier
According to Lew (1991), guidebooks may influence individual travel decisions because it provides the character of a destination, important aspects of a destination, and directing tourists to select from the available product options. Furthermore, guidebooks may influence the formation of destination images that will influence tourist’s perception and satisfaction (Nishimura, Waryszak, and King,
On this idea RTP and ETC (2006) explain that: In community based Tourism, the local community decides all the concerned activities by themselves. Tourism involves cultural exchange that exists in between the local community and visitors coming from different areas of the world. This community based tourism also improves the life of the people through enhancing financial capacity of the people. In community based tourism the community has owner ship feeling on the tourism sector. Community based tourism is a holistic approach that incorporate the environment, social, cultural, economic, impacts of tourism.
Associate Professor,Department Of Business Administration,A.P.S.University,Rewa (M.P) 3. Reader, Department Of Orthodontics,NHDCRI,Bilaspur,(C.G) INTRODUCTION- When talking about tourist choice for destination many factor influence him to conclude an ultimate decision. Tourist amenities, connectivity, convience etc are such factors. It’s a relationship between satisfaction as well as quality of service which are intangible, inseparable, and perishable by nature. The following diagram can easily explain the tourist choice for destination.