Business Services

Test your knowledge

Business resources fall into five categories. List these categories.
Explain the term ‘consumables’. Give three examples.
Explain the term ‘fixed assets’. Give three examples.
Why is it important to keep track of the quantity of resources held by an organisation?
Discuss three ways of estimating the future and present requirements of particular resources.
Why might a supplier be a ‘preferred supplier’?
Use ‘A’, ‘B’ and ‘C’ to discuss how to best present the information you need to pass on about resources.
List ways in which you can prevent resource shortages which impact on the operations of the business.
Briefly describe three methods of valuing inventory.
Discuss how an organisation might acquire resources in a cost-effective manner.
Explain is the difference between a tender and contracted supply.
Prepare a summary of considerations to be made regarding storage of stock.