What would be the relationship (one-to-one, one-to-many, or many-to-many) relationship between: Sales and inventory Inventory and Order form Order and Vendor
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What would be the relationship (one-to-one, one-to-many, or many-to-many) relationship between:
- Sales and inventory
- Inventory and Order form
- Order and Vendor
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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.The following information regarding inventory policy was assembled by the GB Inc. The company uses a 50-week year in all calculations: Sales: 10,000 units per year Order quantity: 2,000 units Safety stock: 1,300 units Lead time: 4 weeks The reorder point is: 3,300 units 2,100 units 100 units 1,300 unitsWhat is Consignment Inventory? Advantages and disadvantages of Consignment Inventory for Vendors?
- The following information regarding inventory policy was assembled by the GB Inc. The company uses a 50-week year in all calculations: Sales: 10,000 units per year Order quantity: 2,000 units Safety stock: 1,300 units Lead time: 4 weeks The reorder point is: a. 3,300 units b. 2,100 units c. 100 units d.300 unitsRecognize the important relationship between inventory management and delivering the perfectcustomer orderWhat is vendor managed inventory (VMI), and what are some advantages and disadvantages of it?
- When cycle counting inventory, why do experts recommend a lower acceptable error tolerance for A items than B or C items?Explain the inventory life cycle phases and why it is crucial to identify them accurately.Inventory carrying costs differ from inventory holding costs when: A. The item is not moved from one place of the storage area to another.B. The owner of the inventory does not own the warehouse.C. The item is not perishable.D. None of the above
- Explain briefly the elements of inventory management?As the Manager of Branson’s Department Store, you are responsible for ensuring that reorder quantities for the various items have been correctly established. You decide to test one item and choose product Z. A continuous review inventory policy has been used, so you examine this as well as other records and come up with the following data: Cost per unit $35 Holding cost 20 percent of unit cost Average daily demand 10 units Ordering cost $30 per order Standard deviation of daily demand 3 units Delivery lead time 4 days Because customers generally do not wait but go elsewhere, you decide on a service probability of 90 percent. Assume that Branson’s Department Store operates 320 days per year. [What is the annual demand (D)? Determine the optimal order quantity, Q*. Determine the reorder point (R) if demand is constant. Determine the reorder point (R) if demand is varies.Instruction: Answer what is being required. You may compute them manually or use the Excel QM.Pencil number 2 at the campus book-store are sold at a fairly steady rate of $60 per week. It cost the bookstore $12 to initiate an order to its supplier and holding costs are $0.005 per pencil per year.Determine◦ How much is the Annual holding cost?◦ How much is the Annual ordering cost? ◦ What is the total annual inventory cost?If the order lead time is 4 months, determine the reorder point.Please Illustrate the inventory profile graphically.What additional cost would the book-store incur if it orders in batches of 1000?