16 Questions
What is the process of recruiting, hiring, and training personnel to perform specific tasks in an organization called?
Staffing
Which skill is NOT mentioned as a job specification in the text?
Staffing Ejemplos
What is a realistic statement of management’s goals and objectives, expressed in financial terms?
Budgeting
Which aspect of controlling involves ensuring that actual costs align with expected costs?
Operating Expenses vs.
What are the challenges mentioned in the text related to inventory control and procurement?
Waste/Spoilage and Security
Which factor is considered a general expected factor for inventory turnover according to the text?
20 to 25 (two weeks inventory)
What does establishing an Approved Supplier List provide an advantage for?
Maintaining Quality Standards
Which factor is used to compute the inventory turnover ratio?
Annual Cost of Goods Sold (CGS)
What is the formula to calculate Average Inventory?
(BI + EI) / 2
Which aspect is NOT part of the Performance Evaluation related to procurement as per the text?
Inventory Turnover BI
What are the main objectives of purchasing in a hospitality operation?
Ensure lowest possible EP cost and maintain quality
In the organizational pattern of large independent operations, what responsibilities fall under the Vice President of Purchasing?
Negotiating contracts and managing research activities
What are the administrative stages involved in the purchasing process?
Planning, organizing, staffing, and budgeting
How does centralized purchasing in hospitality operations contribute to efficiency?
By leveraging volume discounts and standardizing procurement
What are the different organizational patterns for independent operations in hospitality?
Very small-medium independent operation and large independent operation patterns
What are the responsibilities of unit managers in chain operations within the hospitality industry?
Buying from franchise stores and overseeing research activities
Learn about planning and organizing purchasing activities in hospitality operations, understand issues in administering purchasing, compare organizational patterns across different hospitality operations, and explore the pros and cons of centralized purchasing. Dive into the administrative stages of purchasing including planning, organizing, and more.
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