The manager of Vintage Time Video Machine Parlor is responsible for ensuring that all six of his machines are in good condition. Machines frequently need attention but can normally be returned to service quickly. On an average, each machine requires attention five times each hour. The manager averages 4 minutes per repair.a. What percentage of each hour is the manager fixing machines?b. On an average, how many machines are broken down and waiting for repair?c. On an average, how many minutes in an hour are machines waiting for repair or being repaired?

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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.