You've just been appointed as the new regional manager at a supermarket, and your first task is to decide on the replenishment order. What inventory cost should you consider for your first order?
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You've just been appointed as the new regional manager at a supermarket, and your first task is to decide on the replenishment order. What inventory cost should you consider for your first order?
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- In a production company, what are the three forms of inventory?You are running the supply chain for a grocery store operating across Upstate Souun Carolina. You operate a central warehouse and have multiple stores. For each of the following situations determine if it would be best to operate inventory for the product that is pooled at your central warehouse or determined individually by each retail store. Provide at least 1 sentence discussing your choice. (a) The demand for boxes of Nutty Bars at each store during a week is i.i.d. with mean u = 1000 and standard deviation o = Nutty Bars are high compared to holding costs for Nutty Bars. 10. Transshipment costs between the stores for (b) The demand for Fudge Rounds at each store during a week is i.i.d. with mean u = 200 75. Transhipment costs between the stores for Fudge and standard deviation o Rounds are relatively small compared to holding costs.ABC analysis divides on-hand inventory into threeclasses, based on:a) unit price.b) the number of units on hand.c) annual demand.d) annual dollar values.
- What is the difference between independent and dependent demand items? Why is this distinction important to inventory managers?Last year, the retailer’s weekly variance of demand was 200 units. The variance of orders was 500, 600, 750, and 1,350 units for the retailer, wholesaler, distributor, and manufacturer, respectively.a) Calculate the bullwhip measure for the retailer.b) Calculate the bullwhip measure for the wholesaler.c) Calculate the bullwhip measure for the distributor.d) Calculate the bullwhip measure for the manufacturer.e) Which firm appears to be contributing the most to the bull-whip effect in this supplychain?Inventory is the raw materials, work-in-process products and finished goods from the portion of a business's assets that are ready or will be ready for sale. Judge THREE (3) effectiveness of perpetual inventory for the food service organization and explain the impact of the system on the purchasing process. Please answer as quick as possible.
- What factors should a company consider when deciding whether to adopt the Wilson approach for its inventory management?Use ABC analysis to identify the goods that need the most focus and inventory management.Using the data in the images, compute the inventory value of each product by multiplying the quantity on hand by the purchase cost. sort the data in decreasing order of inventory value and compute the percentage of total inventory value for each product and cumulative percentage.
- The demand for an item is 1,000 units per year. Each order placed costs $10; the annual cost to carry items in inventory is $2 each. In what quantities should the item be ordered?Describe how would factors like lead time and lot size impact different types of inventory ?With respect to inventory management, is it better to have an “overstock” than a “stockout”? Why? Why not?