Question: QUESTION 3 3.1 Why is it important that a supplier be ISO certified? (4) 3.2 The outsourcing of firm's activities has expanded due to three

QUESTION 3 3.1 Why is it important that a

QUESTION 3 3.1 Why is it important that a supplier be ISO certified? (4) 3.2 The outsourcing of firm's activities has expanded due to three global trends. List those trends. (6) 3.3 List four (4) advantages of virtual companies. (4) 3.4 A company has a daily demand of 140 units for one of their components. The carrying cost is R125 per unit per year, and the setup cost is R305 per setup. The company is able to produce 200 units per day, and is in operation 300 days a year. Calculate the annual inventory costs (setup + holding costs). (6) [20]

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