You are given the following information regarding sales andinventory levels over time for your firm:YearSalesInventory2015 $21,798$7,2002016 $22,768$7,3402017 $24,103 $7,4802018$24,636 $7,6202019 $26,429 $7,7602020 $27,242 $7,9002021 $28,068 $8,0402022 $28,660$8,1802023 $30,017$8,320Given this information, determine the level of safety stocks thatthe firm held for the five years starting in 2016 and ending in2020.O $4,576O $4,189

The stock that is kept in order to mitigate the risk of stock out or out of stock is known as safety…

Answered: You are given the following information…

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...

See similar textbooks

Similar questions

Dont give me handwritten answer thanku
how does procter and gamble bring together inventory and quality management?
a. What type of efficiencies and/or strategies you could implement in the business stated above (tropical bites restaurant) with regards to transportation, warehousing, third party logistics and reverse logistics? b. What type of strategies you could use to replace physical inventory and how? be creative and provide enough information to detail and justify your choices with the level of information to demonstrate knowledge and familiarity with the concepts and terminology. kindly please use your own words, no copy and pasting from existing articles. Add submission
Arrow Distributing Corp. likes to track inventory by using weeks of supply as well as by inventory turnover. Arrow Distributing Corp. Net Revenue $15,630 Cost of sales $12,190 Inventory $1,090 Total assets $8,770 a) What is its weeks of supply? weeks (round your response to two decimal places). b) What is Arrow's inventory turnover? times per year (round your response to two decimal places). c) Suppose a manufacturer has an inventory turnover of 13.5 times per year. Arrow's supply chain performance relative to the manufacturer's, as measured by inventory turnover, is
Mattress Wholesalers, Inc. is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $7.53 million and inventory was $1.49 million. This year, costs of goods sold is $8.61 million and inventory investment is $1.58 million. a) What was its weeks of supply last year? weeks (round your response to two decimal places). b) What is its weeks of supply this year? weeks (round your response to two decimal places). c) Is Mattress Wholesalers making progress in its inventory reduction effort? Since the number of weeks that cover the supply has V, Mattress Wholesalers is making V in its inventory-reduction effort.
You are given the following information regarding sales and inventory levels over time for your firm: Year Sales Inventory 2015 $22,375 $7,200 2016 $22,929 $7,400 2017 $24,164 $7,600 2018 $24,642 $7,800 2019 $26,050 $8,000 2020 $27,083 $8,200 2021 $27,585 $8,400 2022 $28,775 $8,600 2023 $29,714 $8,800 Given this information, determine the level of safety stocks that the firm held for the five years starting in 2018 and ending in 2022.
Baker Mfg Inc. wishes to compare its inventory turnover to those of industry leaders, who have turnover of about 13 times per year and 8% of their assets invested in inventory. Baker Mfg. Inc. Net Revenue $27,500 Cost of sales $20,000 Inventory $1,210 Total assets $16,880 Part 2 a) What is Baker's inventory turnover? _______ times per year (round your response to two decimal places). Part 3 b) What is Baker's percentage of assets committed to inventory? __________% (enter your response as a percentage rounded to two decimal places). Part 4 c) How does Baker's performance compare to the industry leaders? ▼ Better? In line with industry? Worse?
SLO 1.1 Opportunity cost is a measure of: A) Inventory acquisition costB) Cost of services related to purchasingC) Cost of operating expensesD) Alternatives for invested fundsE) Activity based costs SLO 1.2 ABC analysis provides insight into: A) Total inventory costsB) Average inventory costsC) What items account for the most expendituresD) What items are critical to avoid stock outsE) High turnover items
What is inventory management? Why is it important? Identify an example of a inventory system with which you have worked (You can even describe one you use at home for groceries or other items). Discuss how it was managed. Could you have used any of the models discussed in this unit? please send new answer. Thank you so much!
Your friend Brianna is considering getting a credit card. She is going to use the credit card to help build her credit. The credit card she is considering has an APR of 24.99% and it also has a yearly fee of $150.00 but it does offer 1% cash back on most purchases. She asks you for your advice. Should Brianna get the credit card?
Discuss the 3 major components of the revenue cycle: Front, Middle, and back-end. What does each component consist of?
how to calculate average inventory and average inventory value

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS