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Some companies may choose to have a high level of inventory while other companies in the same industry may choose to have a low level of inventory. What factors need to be considered while determining a policy on the level of inventory? Provide a hypothetical example of inventory optimization. (Note: While describing the factors describe the points like Manager and function, purchasing cycle, Just in time (JIT), Access to vendors, Inventory
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- .How are service level and inventory level dependent on each other? How would factors like lead time and lot size impact different types of inventory?How does inventory management affect a pharmacy’s profit margins and cash flow? Discuss the various factors that affect the cost of goods in a pharmacy? Describe how you think technology in the future will facilitate purchasing and inventory management in a pharmacy.What makes is difficult for managers in today’s marketplace to achieve the proper balance of inventory? Provide examples to support your argument.Despite the challenges of inventory management, in what ways can inventory turnover provide important insights about an organization’s competitiveness and efficiency?
- H&M, a Fashion Giant, Has a Problem: $4.3 Billion in Unsold Clothes. This was reported by the New York Times on March 27, 2018. Here is a short excerpt. I have provided the full story in a Word document attached to this discussion. It is a little dated but again inventory issues continued during the pandemic. Overall, this exemplifies the challenges of maintaining correct inventory levels since there is a lot of money held in excess inventory. “In the world of fashion retailing, where shopping is fast moving online and stores try to keep inventories closely matched to sales, even a small stack of unsold clothes can be a bad sign. What about a $4.3 billion pile of shirts, dresses and accessories? That is the problem facing H&M, the Swedish fashion retailer, which is struggling with a mounting stack of unsold inventory. Signs of its expanding unsold inventory began emerging last year, when it reported an unexpected quarterly drop in sales. The decline was the first in two…H&M, a Fashion Giant, Has a Problem: $4.3 Billion in Unsold Clothes. This was reported by the New York Times on March 27, 2018. Here is a short excerpt. I have provided the full story in a word document attached to this discussion. It is a little dated but again inventory issues continued during the pandemic. Overall, this exemplifies the challenges of maintaining correct inventory levels since there is a lot of money held in excess inventory. “In the world of fashion retailing, where shopping is fast moving online and stores try to keep inventories closely matched to sales, even a small stack of unsold clothes can be a bad sign. What about a $4.3 billion pile of shirts, dresses and accessories? That is the problem facing H&M, the Swedish fashion retailer, which is struggling with a mounting stack of unsold inventory. Signs of its expanding unsold inventory began emerging last year, when it reported an unexpected quarterly drop in sales. The decline was the first in two…Efficient inventory management is important to a company mainly because of the position of inventory in the working capital cycle. Holding excess inventory can lead to obsolescence and can seriously reduce a company’s financial flexibility. Today, most manufacturing companies apply the ABC analysis as one of its inventory management strategies.2. Explain how ABC analysis applied as an inventory management strategy. please provide detailed answer.
- Define inventory and provide some examples. Explain the importance of inventory, types of inventories, and key decisions and costs. How does inventory affect a firm’s financial performance? Define environmentally preferable purchasing or green purchasing. Define and explain the different types of inventory costs that managers must consider in making replenishment decisions. How can these costs be determined in practice? How does order cost differ from setup cost? What is a SKU? Provide some examples in both goods and services. Explain the difference between independent and dependent demand, deterministic and stochastic demand, and static and dynamic demand. Provide an example of an inventory item for each combination of these demand types (e.g., independent, stochastic, and static, and so on). Define lead time. What factors affect lead time? Describe the two different types of stockouts that firms often face. What must be done to prevent them?Arrow Distributing Corp. likes to track inventory by using weeks of supply as well as by inventory turnover. Arrow Distributing Corp. Net Revenue $16,100 Cost of sales $12,450 Inventory $1,100 Total assets $8,460 Part 2 a) What is its weeks of supply? enter your response here weeks (round your response to two decimal places). Part 3 b) What percentage of Arrow's assets are committed to inventory? enter your response here% (enter your response as a percentage rounded to two decimal places). Part 4 c) What is Arrow's inventory turnover? enter your response here times per year (round your response to two decimal places). Part 5 d) 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 ▼ worse the same better .the following data has been provided relating to one of the essential supplies that is utilized for Barloworld logistics operations. usage is approximately 10 brackets per day during the year. the brackets are purchased from a supplier 90km away and the costs incurred include holding costs per bracket per year of R1.50, order cost per order of R18.75. the lead time is 2 days and working days per year is 250 days. advise the management on the following inventory management issues. Examine the factors that you will prioritise at Barloworld in ensuring that inventory management adds value to the organisation and improves on its competitive advantage. what would be the economic order quantity? the annual inventory holding costs. how many orders would be made each year? what would be the annual order cost? what is the time between orders and the reorder point (ROP)?
- Explain and Describe how a quantity based inventory system differs from one that employs a fixed time with the help of example ?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?A computer company's yearly inventory cost is 39 percent (which accounts for the cost of capital for financing the inventory, warehouse space, and the cost of obsolescence). Last year, the company had $375 million in inventory and cost of goods sold of $29 billion.What is the company's total inventory cost for the year (in million $s)? Note: Round your answer to the nearest integer.