What is quality and safety stock in simple words, and examples of it?
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What is quality and safety stock in simple words, and examples of it?
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- 15 What to purchase and when to purchase are strategic supply chain decisions. Select one: a. False b. TrueDescribe what are just in time inventory pros and cons for a business?4) Rane Brake Linings gathered information for its brake lining components as presented in the table below. How would the firm classify these items according to an ABC classification system? Initial Information Part # Unit Cost Annual Demand 10 10 200 11 30 125 12 9 100 13 12 5000 14 50 195 15 6 300 16 100 70
- Q.3.2 Mpho is an avid seamstress and want to sew and sell high quality, reusable,designer face masks during the current Covid-19 pandemic. She will design andsew the masks herself and use her automatic embroidery machine to put her logoon each mask sold. With the help of her son, deliveries will be made all overGauteng within 3 days of placing the order. Every mask will have a unique threelayer design with adjustable straps to ensure comfort and fit. Mpho’s only expenseis the material needed to sew the masks and delivery costs. At this stage, Mpho’starget market is limited to Gauteng.Draw a diagram to illustrate the transformation process of Mpho’s new business.Be sure to include all relevant elements, headings and arrows to indicate the flowof products/ services.The Bennet Company purchases one of its essential raw materi-als from three suppliers. Bennet’s current policy is to distributepurchases equally among the three. The owner’s son, BenjaminBennet, just graduated from a business college. He proposesthat these suppliers be rated (high numbers mean a good per-formance) on six performance criteria weighted as shown in thetable. A total score hurdle of 0.60 is proposed to screen suppli-ers. Purchasing policy would be revised to order raw materialsfrom suppliers with performance scores greater than the totalscore hurdle, in proportion to their performance rating scores. a. Use a preference matrix to calculate the total weightedscore for each supplier.b. Which supplier(s) survived the total score hurdle? Underthe younger Bennet’s proposed policy, what proportion oforders would each supplier receive?c. What advantages does the proposed policy have over thecurrent policy?Q.1. a) Explore the security concerns commonly associated with warehousing and inventory operations b) Explore how managers can go about resolving the above mentioned security issues in (a)?
- Black Instrument Company replenishes highly specialized replacement (service) parts based on statistical reorder point. One part is a 40-mm thumbscrew. Relevant data for the thumbscrew are: Planned stock out frequency= Six per year. Planned lead time = 2 weeks Forecast for next week= 300 Batch size = 400 Standard deviation of demand = 20 (per week) What is the reorder point? What would be the effect on the ROP if lead time were five weeks instead of two? What other factors might impact your decision on when to reorder parts?a. Construct:i. ABC analysis by annual dollar usageii. ABC analysis by current inventory value(Performing the tables and charts in excel)b. Based on these analyses, do you think the firm is stocking the correct inventories?Warehouse: 4. What is stock receipt? What consideration should be taken in the stock receipt?