Based on overall inventory expectations reported in the PMI for the United States, is the total cost of ownership likely to increase or decrease for suppliers and manufacturers? Why?
Q: Explain how inventory management impacts the supply chain performance ?
A: Below is the solution:-
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A: Below is the solution:-
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- Based on overall inventory expectations reported in the PMI for the United States, is the total cost of ownership likely to increase or decrease for suppliers and manufacturers? Why?
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- DISCUSS your thoughts on how poor inventory management affects the end customer of a product, especially as it relates to the cost of the product.Explain how inventory management impacts the supply chain performance ?One of your Taiwanese suppliers has bid on a new line of molded plastic parts that is currently being assembled at your plant. The supplier has bid $0.10 per part, given a forecast you provided of 300,000 parts in year 1; 500,000 in year 2; and 700,000 in year 3. Shipping and handling of parts from the supplier's factory is estimated at $0.03 per unit. Additional inventory handling charges should amount to $0.004 per unit. Finally, administrative costs are estimated at $20 per month. Although your plant is able to continue producing the part, the plant would need to invest in another molding machine, which would cost $10,000. Direct materials can be purchased for $0.04 per unit. Direct labor is estimated at $0.05 per unit for wages plus a 50 percent surcharge for benefits and, indirect labor is estimated at $0.013 per unit plus 50 percent benefits. Up-front engineering and design costs will amount to $40,000. Finally, management has insisted that overhead be allocated if the parts are…
- “Supply chain management has been a very vital tool in the competitive world of business, and this depends on the product and its supply chain. Managing inventory is a critical activity for the success of supply chain since inventory impacts the costs of goods sold as well as supports customer service”. Discuss the validity of this statementOne of your Taiwanese suppliers has bid on a new line of molded plastic parts that is currently being assembled at your plant. The supplier has bid $0.10 per part, given a forecast you provided of 200,000 parts in year 1; 300,000 in year 2; and 500,000 in year 3. Shipping and handling of parts from the supplier’s factory is estimated at $0.01 per unit. Additional inventory handling charges should amount to $0.005 per unit. Finally, administrative costs are estimated at $20 per month. Although your plant is able to continue producing the part, the plant would need to invest in another molding machine, which would cost $10,000. Direct materials can be purchased for $0.05 per unit. Direct labor is estimated at $0.03 per unit plus a 50 percent surcharge for benefits; indirect labor is estimated at $0.011 per unit plus 50 percent benefits. Up-front engineering and design costs will amount to $30,000. Finally, management has insisted that overhead be allocated if the parts are made in-house…What is the significance of inventory management in the overall supply chain management? Research at least one company that is not Wal-Mart or IKEA that you believe is doing an excellent job at managing its inventory.
- Please do not give solution in image format thanku Profitsfor the company can rocket upward if it achieves sufficient savings in supply chain costs. This is important given the broad scope of the supply chain, which extends beyond the company to include both suppliers and customers. A systematic approach is also important because of the variable requirements supply chain managers must manage. With reference to this information, Examine the influence of systems analysis towards effective identification of organizational goals and purposes. Provide real life examples to support your discussion.Why is market history meaningless for raw material and work-in-process inventory management?As a regional manager in collaboration with other supply chain partners, which type of inventories would you classify according to the purpose the inventory serves within the supply chain?
- Delivery of goods from a supplier is in transit for 10 days. If annual demand is 5200 units, what is the average amount of inventory in transit?The U.S. Airfilter company has hired you as a supply chain consultant. The company makes air filters for residential heating and air-conditioning systems. These filters are made in a single plant located in Louisville Kentucky, in the United States. They are distributed to retailers through wholesale centers in 100 locations in the United States, Canada, and Europe. You have collected the following data to the value of inventory in the U.S. Airfilter supply chain. Qtr. 1 Qtr.2 Qtr. 3 Qtr. 4 (Jan-Mar) (Apr-Jun) (July-Sept) (Oct-Dec) All amounts in millions of U.S. dollars Sales (total quarter): United States 414 402 502 514 Canada…. All the following behaviours are possible obstacles to supply chain coordination, except _____a) Each stage of the supply chain views its actions locally and is unable to see the impact ofits actions on other stagesb) Different stages of the supply chain react to the current local situation rather than trying toidentify the root causesc) Based on local analysis, different stages of the supply chain blame each other for thefluctuations, with successive stages in the supply chain becoming enemies rather thanpartnersd) None of the above
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