Draw supply and demand diagrams to ilustrate what was happening to house price(a) in the second half of the 1980s the late 1990s and early 2000s (b) in the early 1990s. Are there any factor on the su?
Improving DecisionMaking: Using a Spreadsheet toSelect SuppliersSoftware skills:Spreadsheet date functions, data filtering, DAVERAGE functionBusiness skills: Analyzing supplierperformance and pricing.In this exercise, youwill learn how to use spreadsheet software to improve managementdecisions about selecting suppliers. You will start with rawtransactional data about suppliers organized as a large spreadsheetlist. You will use the spreadsheet software to filter the databased on several different criteria to select the best suppliersfor your company. You run a company that manufactures aircraftcomponents. You have many competitors who are trying to offer lowerprices and better service to customers, and you are trying todetermine whether you can benefit from better supply chainmanagement.In myMISlab, you willfind a spreadsheet file that contains a list of all of the itemsthat your firm has ordered from its suppliers during the past threemonths. A sample is shown below, but the Web site may have a morerecent version of this spreadsheet for this exercise. The fields inthe spreadsheet file include vendor name, vendor identificationnumber, purchaser's order number, item identification number anditem description (for each item ordered from the vendor), cost peritem, number of units of the item ordered (quantity), total cost ofeach order, vendor's accounts payable terms, order date, and actualarrival date for each order.Prepare arecommendation of how you can use the data in this spreadsheetdatabase to improve your decisions about selecting suppliers. Somecriteria to consider for identifying preferred suppliers includethe supplier's track record for on-time deliveries, suppliersoffering the best accounts payable terms, and suppliers offeringlower pricing when the same item can be provided by multiplesuppliers. Use your spreadsheet software to prepare reports tosupport your recommendations.
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