Paula Caplin is manager of a major electronics repair facility owned by Fisher Electronics. Recently, top management expressed concern over the growth in the number of repair jobs in process at the facility. The average arrival rate is 120 jobs per day. The average job spends four days at the facility.a. What is the current work-in-process level at the facility?b. Suppose that top management has put a limit of one-half the current level of work-in-process. What goal must Paula establish, and how might she accomplish it?

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Inventory Management

The supply chain is crucial to a firm's operations as it manages the inflow and outflow of products that are manufactured from the initial stage to the end product. It also considers the raw materials needed at different stages of production and when the work is in progress. Inventory management functions consist of ordering, storing, and procuring the organization's inventory like raw materials, factors, and finished products. It's also used for controlling the number of products for trade and helps manage the organization's inventory and stock. Inventory Management has been defined as having the right inventory, of the right volume, at the right cost.