Critically evaluate the relationship between lean and agile strategies in managing logistical costs. Support your answer with suitable examples
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Critically evaluate the relationship between lean and agile strategies in managing logistical costs. Support your answer with suitable examples
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- Costco also employs a just-in-time inventory management system, which includes sharing data directly with many of its largest suppliers. Companies like Kimberly-Clark calculate re-order points in real time and send new inventory, as needed, to replenish store shelves. Costco also works to redesign product packaging to squeeze more bulky goods onto trucks and shelves, reducing the number of orders Costco needs to place with suppliers.Occasionally, the company leverages its 75 million square feet of warehouse space to reduce purchasing costs. For example, when Procter & Gamble recently announced a 6% price increase for its paper goods, Costco bought 258 truckloads of paper towels at the old rate and stored them using available capacity in its distribution centers and warehouses.These inventory management techniques have allowed Costco to succeed in tough times while others have failed. Costco turns its inventory nearly 12 times a year, far more often than other retailers. With many…Costco also employs a just-in-time inventory management system, which includes sharing data directly with many of its largest suppliers. Companies like Kimberly-Clark calculate re-order points in real time and send new inventory, as needed, to replenish store shelves. Costco also works to redesign product packaging to squeeze more bulky goods onto trucks and shelves, reducing the number of orders Costco needs to place with suppliers.Occasionally, the company leverages its 75 million square feet of warehouse space to reduce purchasing costs. For example, when Procter & Gamble recently announced a 6% price increase for its paper goods, Costco bought 258 truckloads of paper towels at the old rate and stored them using available capacity in its distribution centers and warehouses.These inventory management techniques have allowed Costco to succeed in tough times while others have failed. Costco turns its inventory nearly 12 times a year, far more often than other retailers. With many…Costco also employs a just-in-time inventory management system, which includes sharing data directly with many of its largest suppliers. Companies like Kimberly-Clark calculate re-order points in real time and send new inventory, as needed, to replenish store shelves. Costco also works to redesign product packaging to squeeze more bulky goods onto trucks and shelves, reducing the number of orders Costco needs to place with suppliers.Occasionally, the company leverages its 75 million square feet of warehouse space to reduce purchasing costs. For example, when Procter & Gamble recently announced a 6% price increase for its paper goods, Costco bought 258 truckloads of paper towels at the old rate and stored them using available capacity in its distribution centers and warehouses.These inventory management techniques have allowed Costco to succeed in tough times while others have failed. Costco turns its inventory nearly 12 times a year, far more often than other retailers. With many…
- Costco also employs a just-in-time inventory management system, which includes sharing data directly with many of its largest suppliers. Companies like Kimberly-Clark calculate re-order points in real time and send new inventory, as needed, to replenish store shelves. Costco also works to redesign product packaging to squeeze more bulky goods onto trucks and shelves, reducing the number of orders Costco needs to place with suppliers.Occasionally, the company leverages its 75 million square feet of warehouse space to reduce purchasing costs. For example, when Procter & Gamble recently announced a 6% price increase for its paper goods, Costco bought 258 truckloads of paper towels at the old rate and stored them using available capacity in its distribution centers and warehouses.These inventory management techniques have allowed Costco to succeed in tough times while others have failed. Costco turns its inventory nearly 12 times a year, far more often than other retailers. With many…South African rapper, Cassper Nyovest, has launched a business venture manufacturing his very own clothing and shoes. Whilst the just-in-time inventory system provides various efficiencies, analyse“reduces lead times” as a benefit for Cassper’s company. Note: You are required to provide at least two application points.ABC, Inc., produces a line of touring bicycles. Specifically, what are the four typesof inventories (raw materials, components, work-in-process, and finished goods)that would arise in the production of this item?
- Do you think supply chain design and planning should be as rigid as possible or as flexible as possible? Give an example. One of the key aspects of Dell business model was postponement of the assembly until receiving customer orders. Explain how postponement can help reduce inventory.Draw a simple bill-of-materials (BOM) for a smart phone given the following requirements: (a) clearly label the end item and each component, (b) the BOM must contain no more than ten items, (c) the BOM must contain at least three levels (you may count the end-item level zero).How can you improve your warehouse performance while using WMS, saving at least five points? With appropriate examples
- Ordering of goods or materials in a way that they are delivered to the factory without storage ?Can you say if it is better to carry inventory or create back orders? Discuss the pros and cons of eachRobotic Pet Products uses overtime, inventory, and subcon-tracting to absorb fluctuations in demand. As expected, de-mand in the fourth quarter during the holiday season isparticularly high, followed by first quarter demand forcustomers purchasing accessories for their R-pets. Giventhe demand and available capacities shown below, design aproduction plan that will satisfy demand at minimum cost.Regular production cost per unit $10Overtime production cost per unit $15Subcontracting cost per unit $20Inventory holding cost per unit per period $3Beginning inventory 100 Regular Overtime SubcontractingQuarter Demand Capacity Capacity Capacity1 1000 1000 100 5002 800 1000 100 5003 600 1000 100 5004 2600 1000 100 500