Describe what is VED classification and FSND classification in inventory management?

Q: What is vendor managed inventory (VMI), and what are some advantages and disadvantages of it?

A: Vendor Managed InventoryVendor-managed inventory (VMI) implies using local suppliers (example,…

Q: Explain the difference between static and dynamic inventory models?

A: Static inventory models are those that do not repeat, whereas dynamic inventory models are those…

Q: Discuss the ABC inventory classification system and indicate it's benifits?

A: Inventory management is the process of a ordering, storing, and utilizing a business's inventory.…

Q: Explain two problems that may arise when using standard EOQ model when quantity discounts are…

A: The economic order quantity (EOQ) refers to the ideal order quantity, an organization should…

Q: Managing Inventory at Frito-Lay Managing Inventory at Frito-Lay Frito-Lay has flourished since its…

A: The value of inventory management cannot be underestimated, particularly for eCommerce and online…

Q: Explain the major assumptions of the basic EOQ model.

A: Economic order quantity is quantity of order that minimizes the ordering and holding costs as well.…

Q: What is EOQ?

A: Economic order quantity (EOQ) is a inventory management technique which helps to reduce the total…

Q: Define Inventory Management?

A: Inventory management is the supervision of the non-capitalized assets, or inventory, as well as…

Q: State three main principles of Inventory Management. Describe the possible consequences if inventory…

A: A business can run efficiently its effective goings-on only when the suitable quantity of inventory…

Q: How do we do inventory

A: Inventory management is a component of supply chain management that seeks to ensure that the correct…

Q: The company L. Houts Plastics is a large manufacturer of injection- molded plastics in North…

A: Given data is

Q: What is a normal distribution? What two characteristics define it? Why is it important in…

A: The normal distribution is said to be the continuous probability distribution, which would be…

Q: Describe the business functionsand the related documents andrecords in the inventory andwarehousing…

A: Inventory and warehousing forms the most important part of the business. It is the source where the…

Q: Explain Vendor-managed inventory?

A: Vendor-managed inventory (VMI): It is a well-designed approach to inventory management. In vendor…

Q: Which of the following is NOT one of the major causes of the bullwhip​ effect?   A. demand forecast…

A: The bullwhip effect means a condition in which the supply chain of an organization puts pressure to…

Q: What are the importance of ABC inventory control system post covid

A: ABC inventory control system can be denoted as a process of identifying and optimizing stocks…

Q: Waleed Pharmacy, Oman applies the basic EOQ model, if the demand is 6,000 units per year, ordering…

A: Economic Order Quantity (EOQ) will be formulated as per following: EOQ = Square root (2 x Co x D/…

Q: Define Inventory holding?

A: The process of storing inventory is called inventory holding. Companies hold inventory for avoiding…

Q: Describe the difference between a fixed-quantity (Q) anda fixed-period (P) inventory system.

A: Fixed order quantity assumes possessions and ability to the utmost and permanent. It will not…

Q: Discuss the concept of inventory management with reference to any one aspect (Food…

A: Hospitality - The Indian Railway Catering and Tourism Corporation (IRCTC) is the country's largest…

Q: Explain the differences between single period inventory system and multi period inventory system?

A: In any manufacturing company, inventory and management of inventory are very important. Inventory…

Q: Explain the ABC inventory classification system and indicate its advantages

A: Each organization constantly strives to maintain maximum inventory in order to meet its needs and…

Q: Explain why is necessary to maintain inventory control?

A: Inventory is the stock material held by a business so that it may be distributed instantly to the…

Q: Discuss what is VED classification and FSND classification in inventory management?

A: VED Classification The VED classification system is based on the criticality of an item in the…

Q: define the ABC approach to inventory management Several metrics can be used to identify an…

A: ABC Analysis is an approach for classifying inventory things supported the items’ consumption…

Q: State the 3 elements of inventory management ?

A: Inventory management is the operation of purchasing, warehousing, and utilizing the inventory of the…

Q: Identify and briefly explain the use of several inventory control systems.

A: Perpetual Inventory System At the point when you utilize an interminable Inventory framework, it…

Q: Describe vendor-managed inventory (VMI).  How is it related to outsourcing?

A: Inventory management can be stated as the approach to management or administration of the…

Q: How does the purchase connection to the classic EOQ model work?

A: EOQ Model:                 EOQ stands for Economic Order Quantity and this model will help to find…

Q: Inventory Control – Definitions, Objectives and Activities

A: Inventory is the term used to refer to the products that are available for sale and the raw…

Q: Q3. What is inventory management? Explain in brief 4 functions of inventory management.

A: Inventory management refers to the method of ordering, storing, and employing a company's inventory.…

Q: Discuss the major inventory costs that are used in determining EOQ

A: EOQ- Economic Order quantity provides the information of order quantity cost-effectively to the…

Q: 7. Explain why it is not necessary to include product cost (price or price times quantity) in the…

A: The concept of Operation Management: Operation management is the management that applies to a…

Q: Explain the key assumptions of the basic EOQ model.

A: The purchase amount (EOQ) methodology is the approach that generates an order quantity for the firm.…

Q: Discuss what is meant by ABC analysis of inventory.Name several measures that can determine…

A: Inventory management refers to keep a check on inventory with respect to time, track inventory in…

Q: Explain the EOQ.

A: EOQ is an abbreviation of economic order quantity. The economic order quantity(EOQ) is optimum…

Q: What are the basic EOQ model's assumptions, and to what extent do they limit the model's utility?

A: -Demand is specified and distributed uniformly throughout the year.-There is no delay between making…

Q: Discuss why is it not necessary to include product cost in the EQQ model, but the quantity inventory…

A: The concept of organizational structures: Operational manager is responsible for the context of a…

Q: Discuss the assumptions of the basic EOQ model?

A: The Basic EOQ( Economic Order Quantity) Model: Economic order quantity or EOQ model is the equation…

Q: Explain the ABC inventory classification system and indicate it's pros?

A: Inventory management is the process of ordering, storing, and utilizing a business's inventory. This…

Q: Describe what is ABC classifications in inventory management?

A: Organizations classify and categorize inventory items in order to maintain proper control over them.…

Q: 1. What are some of the advantages of using sage 50 inventory system

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: L. Houts Plastics is a large manufacturer of injection-molded plastics in North Carolina. An…

A: Inventory is a means to an end in any association occupied with the creation, deal, or exchanging of…