Given the information below, conduct an ABC analysis and determine which items should be classified as A, B, and C. Which items do you suggest the firm keep the tightest control over? Explain. Item Part Number Item Cost Quantity In Stock 142-AZ $546.00 318 4392-GF $45.00 1250 86935-ES $15.35 3546 173-DC $653.00 1876 $199.00 $23.00 999-BA 526 7846-NM 973 2765-OP $385.00 790 103-VX $12.50 4875 2648-YT $16.75 5185

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A: Given- Annual demand (D) = 23,400 units Ordering cost(S) = $250 Holding cost (H) = 21% of item cost…

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Q: HOW MUCH TO ORDER: ECONOMICORDER QUANTITY MODELS.

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A: Approach to solving the question: Answer the given question.

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Q: What is the purpose of safety stock? Explain by citing a concrete example.

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Customary Pricing

There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows: 

Multiple Unit Pricing

“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”