How is inventory turnover calculated? Why is the resulting ratio important?
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How is inventory turnover calculated? Why is the resulting ratio important?
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- The chapter presented various approaches for the control of inventory investment. Discuss three additional approaches not included that might involve supply chain managers.How is inventory turnover calculated, and what information does it provide for the owner-manager?Explain why is the inventory turnover ratio of a business desirable ?
- Why is the use of inventory turnover proportions in comparison with the inventory output of firms in various industries not appropriate?What is a “supply chain,” and how are supply chains related to justin-time inventory procedures?Baker Mfg Inc. wishes to compare its inventory turnover to those of industry leaders, who have turnover of about 13 times per year and 8% of their assets invested in inventory. Baker Mfg. Inc. Net Revenue $27,500 Cost of sales $20,000 Inventory $1,210 Total assets $16,880 Part 2 a) What is Baker's inventory turnover? _______ times per year (round your response to two decimal places). Part 3 b) What is Baker's percentage of assets committed to inventory? __________% (enter your response as a percentage rounded to two decimal places). Part 4 c) How does Baker's performance compare to the industry leaders? ▼ Better? In line with industry? Worse?
- How is multi-echelon-inventory analysis a significant challenge?Why is it that inventory turnover ratios are inefficient for comparing the inventory output of businesses across industries?What are some of the ways that inventory turnover will reveal valuable information about a company's productivity and efficiency?