Discuss different type of inventory control techniques used in operations Management with example.
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Q1. Discuss different type of inventory control techniques used in operations Management with example.
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- Question 15 Discontinuity created by new technology a.shows the amount of effort required to measure new technology B.shows the gap between the old technology and new technology C.shows the amount of capital required to implement new technology D.shows the amount of effort required to use old technology QUESITON 16 Quantity discount model is an inventory management model where A.The cost per unit decreases as production quantities increase B.Used to determine the optimal order quantity C.The price per unit decreases as order quantities decrease D.Used to determine the economic order quantity Question 17 In strategy formulation, which of the following processes answers the question "How will the firm compete"? A.Deploying the strategy B. Defining the primary tasks C.Positioning the frm D.Determining the order winners and order qualifersDefine INVENTORY CONTROL?QUESTION 3Space and equipment are major components of cost in warehouse management. Cube utilization refers to the efficient use of space in the warehouse both on the floor and in height. You are reviewing the efficiency in relation to space utilization in the warehouse.(a) The following information is identified for some of the stock items in the warehouse. Stock keeping unit(SKU) | Number of PalletsSKU 010 2 SKU 020 5 SKU 030 13 SKU 040 7 SKU 050 4 a) The pallets are being stored 3 high. Calculate the percentage utilisation in the warehouse? (b) It is found that the low rate of space utilisation is because the warehouse is using a fixed location method of storage. Recommend two other methods of stock location the organisation can use giving reasons why?
- Q1) Describe the company's inventory management system?question 6 In a Q system, the demand rate for strawberry ice cream is normally distributed, with an average of 295pints per week.The lead time is 8 weeks. The standard deviation of weekly demand is 10 pints. Refer to the standard normal table1 for z-values. a. The standard deviation of demand during the 8-weeklead time is ______pints. (Enter your response rounded to the nearest whole number.) b. The average demand during the 8-week lead time is_____ pints. (Enter your response as an integer.) c. The reorder point that results in a cycle-service level of 92percent is _______ pints. (Enter your response rounded to the nearest whole number.) 1: Data Table The table below shows the total area under the normal curve for a point that is Z standard deviations to the right of the mean. Z 0.00 0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.08 0.09 0.0 0.5000 0.5040 0.5080 0.5120 0.5160 0.5199 0.5239 0.5279 0.5319 0.5359 0.1 0.5398…question 5 At Dot Com, a large retailer of popular books, demand is constant at 20,400 books per year. The cost of placing an order to replenish stock is $75, and the annual cost of holding is $6.00 per book. Stock is received 12 working days after an order has been placed. No backordering is allowed. Assume 325 working days a year. a. Dot Com's optimal order quantity is______ books. (Enter your response rounded to the nearest whole number.) b. The optimal number of orders per year is_____ orders. (Enter your response rounded to the nearest whole number.) c. The optimal interval (in working days) between orders is____ days. (Enter your response rounded to one decimal place.) d. The demand during lead time is ______ books. (Enter your response rounded to the nearest whole number.) e. The reorder point is _____ books. (Enter your response rounded to the nearest whole number.) f. The inventory position immediately after an order has been placed is _______ books.…
- Question 23 Company A carries 5,000 items. Customers ordered 1,000 items from inventory last week. Company A was able to fulfill 600 items of the order. What is the stock out probability for last week? Group of answer choices 0.08 0.4 0.6 0.92Required information Skip to question George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company’s products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Week Units Total Etching Cost 1 9 $ 21 2 12 25 3 13 30 4 9 20 5 11 25 6 18 34 72 $ 155 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y = a + bX.Question content area Part 1 A gourmet coffee shop in downtown San Francisco is open 200 days a year and sells an average of 75 pounds of Kona coffee beans a day. (Demand can be assumed to be distributed normally with a standard deviation of 16 pounds per day). After ordering (fixed cost = $17 per order), beans are always delivered from Hawaii in exactly 4 days. Per-pound annual holding costs for the beans are $3. Refer to the standard normal table LOADING... for z-values. e) What is the safety stock needed to attain a 1% risk of stockout during lead time? enter your response here pounds (round your response to two decimal places). Part 7 f) What is the annual holding cost of maintaining the level of safety stock needed to support a 1% risk? $enter your response here (round your response to two decimal places). Part 8 g) If management specified that a 2% risk of stockout during lead time would be acceptable, the safety stock holding costs will ▼…
- __________________________________________________________________________Question No. 1A) Prepare the total budgeted sales in dollars for the quarter ended March 31, 2021 usingthe following data.Feb Mar AprQuantity of budgeted units for salesJan 25000 Feb 55000 Mar 35000 Apr 40000 Expected selling prices of each unitJan $12 Feb $15 Mar $20 Apr $22 B) What is Budget & how does it helps management in managing business?Question 27 C&A sells 600 bottles of a dietary supplement per week at $100 per bottle. The supplement is ordered from a supplier who charges C&A $30 per order and $50 per bottle. C&A's annual holding cost percentage is 40%. Assume C&A operates 50 weeks in a year. What is C&A's total ordering and holding cost per year if C&A orders 600 bottles at a time? Group of answer choices $13,500 $7,500 $6,800 $5,036Q. The company's financial problems are the ____________result of years of poor management. stable inevitable inflexible irresistible