What special procedures should be used to control the most expensive and most frequently used products in inventory? Give one example of a product in your response
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What special procedures should be used to control the most expensive and most frequently
used products in inventory? Give one example of a product in your response.
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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.hello, can someone help me with this question?: if a company regularly holds 50 units of safety stock of a product and places orders in quantities of 500 units for the same product, what would be the average warehouse inventory for that product?Discuss the Challenges & Best practices with respect to the inventory management. * Mention the references at the end
- Inventory is the raw materials, work-in-process products and finished goods from the portion of a business's assets that are ready or will be ready for sale. Judge THREE (3) effectiveness of perpetual inventory for the food service organization and explain the impact of the system on the purchasing process. Please answer as quick as possible.What is inventory management? Why is it important? Identify an example of a inventory system with which you have worked (You can even describe one you use at home for groceries or other items). Discuss how it was managed. Could you have used any of the models discussed in this unit? please send new answer. Thank you so much!Suppose that a large discount retailer with a lot of purchasing power in a supply chain requires that all suppliers incorporate a new information system that will reduce the cost of placing orders between the retailer and its suppliers as well as between the suppliers and their suppliers. Suppose also that order quantities and lead times are related; the smaller the order quantity the shorter the lead time from suppliers. Assume that all members of the supply chain use a continuous review system and EOQ order quantities. Explain the implications of the new information system for the supply chain in general and the inventory systems of the supply chain members in particular.
- What is the ABC method of inventory control? Demonstrate your understanding of ABC analysis with a practical example?Explain the basic concepts of inventory control. Use the following guide for each part of the essay: Introduction Explains the functions of an inventory and the importance of keeping it under control. Development Answer the following questions: Explain and provide examples of the four types of inventory discussed in this module.Explain what the three main costs of inventory are.It takes approximately 2 weeks (14 days) for an order of steel bolts to arrive once the order has been placed. The demand for bolts is fairly constant; on the average, the manager, Michelle Wu, has observed that the hardware store sells 500 of these bolts each day. Because the demand is fairly constant, Michelle believes that she can avoid stockouts completely if she orders the bolts at the correct time. What is the reorder point? The reorder point is? units (enter your response as a whole number).
- 47 Companies take a physical count of inventory at the end of the accounting period. Taking a physical count of inventory involves_________________________. a. Counting of each kind of inventory b. Measuring of each kind of inventory c. Weighing of each kind of inventory d. All the given optionList some products in your personal or family “inventory.” How do you manage them? (For instance, do you constantly run to the store for milk? Do you throw out a lot of milk because of spoilage?) How might the ideas in this chapter change your way of managing these SKUs?Inventory for DURABLE goods are usually ______ Than those for perishable items. a. Higher B. Lower C. Can’t be determined D. Same