You are given the following information regarding sales and inventory levelsover time for your firm:YearSalesInventory2015$22,375$7,2002016$22,929$7,4002017$24,164$7,6002018$24,642$7,8002019$26,050$8,0002020$27,083$8,2002021$27,585$8,4002022$28,775$8,6002023$29,714$8,800Given this information, determine the level of safety stocks that the firm heldfor the five years starting in 2018 and ending in 2022.

Let me state the given data,…

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...

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In the current competitive retail business, traditional brick-mortar business model has slowly lost out to e-commerce. When trading is done online, it's important to understand customer buying patterns. In return, the ability to predict this pattern into potential marketing solutions to increase sales and profit. Business owners need to know their customers and understand their needs and behaviors. In current business settings, customers purchasing patterns are recorded within big data. Big data when adequately used serve good and formidable business competitive advantage. To do this, retailers use a technique called market basket analysis. Market basket analysis consists of analyzing large data sets that include purchase history, revealing product groupings, and products that are likely to be purchased together. The simulated case (see table 1) below illustrates a retail purchasing pattern for garments collected over 19 cluster retails. The recorded purchasing combination serves to…
A restaurant has annual sales of $420,000, an average inventory of $6000, and an annualcost of goods sold of $264,000. What is the restaurant’s monthly inventory turns?
Mattress Wholesalers, Inc. is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $7.48 million and inventory was $1.46 million. This year, costs of goods sold is $8.57 million and inventory investment is $1.62 million. a) What was its weeks of supply last year? nothing weeks (round your response to two decimal places).
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.
Discuss the different kinds of costs in carrying inventory and what role the inventory turnover ratio has in determining those costs. Then think about a product(s) you recently purchased and answer the following question: Which inventory cost category is probably the largest for this product(s) and how could this category of inventory cost be reduced?
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
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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?
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