Answered: SLO 1.3 Supplier managed inventories…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

SLO 1.3 Supplier managed inventories works best for:

A) Production material
B) Direct material
C) A items
D) MRO supplies
E) B items

SLO-2.1 Despite the increased use of JIT systems, there are several benefits or advantages to having inventory, they include:

A) Make possible smooth and efficient operations by decoupling individual segments of the total operation
B) Inventories of parts and components produced in-house facilitates economical production runs in various machine-assembly stations
C) Provides “safety” stock for supply interruptions
D) Finished goods inventory help the marketing/sales department satisfy unexpected customer demand to avoid stockouts
E) All of the above

Expert Solution

Step 1 Introduction:-

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Conceptual Introduction:-

Supplier-managed inventories (SMI) is an inventory management strategy where the supplier of goods manages the inventory levels for the buyer. This approach works best for certain types of inventory, and the best fit can depend on the industry and specific business needs.