Hospitality Assignment (Coursework Sample)

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Hospitality Assignment 4
1
Various costs and benefits occur when a prospect is stalling a supplier. The stalling process can be costly and time-consuming because of prolonged negotiations. The buyers are also expected to involve extensive work in the purchasing period, which makes them captives to their other supply counterparts. The suppliers additionally risk the leakage of private information shared during the buyer-supplier interaction with other competitors, or the buyers use the information to become potential opponents. Some benefits come along with stalling a supplier. The benefits include an exceptional delivery process that prevents inventory costs; there is vendor flexibility to avoid the last-minute rush for both parties, fair prices, and quality and reliability.
2
Late bill payment may expose an individual to the risk of losing many resources to overcome debts either financially or time consumed by credit controllers. This can affect the company’s normal expenditures, including supplies rent, employee salaries, and operations expenses.
3
The advantage of using cash as the payout is that it is not taxed as compared to credit cards. This reduces bookkeeping and is less stressful. Using cheques is also beneficial in that they are more convenient than carrying lump sums of cash; there is no counting required hence reduced counting errors. The disadvantage of using cheques as payouts is that they attract too high transaction costs.
4
A hospitality operator can request a credit slip from a supplier if they need additional products or if they are returning some previously purchased goods. The slip can also be used to determine that one is owed some money by the store and has the liberty to pick goods of an equal amount.
5
The suggestion is that the offer is suitable for both parties depending on various future unpredictable factors. For instance, considering that Canadian whiskey does not spoil when stored over a certain duration, it is advisable to take the six month supply for $6,768 rather than wait for later. This will save on purchasing costs at the moment, irrespective of whether the price will increase in the future.
6
If the normal purchase is 100 cases for $32.50 each per month and things change to a two month supply costing 200 cases at $30, $500 will be saved. This is possible if the cost per order and storage costs remain constant.
7
EP cost= AP price –Yield percentage
Cost= AP price – Yield percentage
Lettuce A: (0.22- 0.7%) = -0.48
Lettuce B: (0.29- 0.8%) = -0.51
Lettuce C: (0.32- 0.9%) = 0.58
8
Various approaches are applicable during a purchase when either requesting for items or services. They include cheque requests, blanket orders, and petty cash, among others. Examples of things