When is the right time and placement for the business to produce or order products as their inventory? Is overstocking of products good for one company? Why?
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When is the right time and placement for the business to produce or order products as their inventory? Is overstocking of products good for one company? Why?
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Solved in 2 steps
- .How are service level and inventory level dependent on each other? How would factors like lead time and lot size impact different types of inventory?Delivery of goods from a supplier is in transit for 10 days. If annual demand is 5200 units, what is the average amount of inventory in transit?For the Stock Management process, describe the IT software that might be used by the Procurement Department (Purchasing) in order to determine which goods and what quantity of them are required by the shop. Explain the Business process and how the selected software can support it. What would be the advantages/disadvantages?
- What are the advantages and disadvantages of "just-in-time Inventory" for a company?“Supply chain management has been a very vital tool in the competitive world of business, and this depends on the product and its supply chain. Managing inventory is a critical activity for the success of supply chain since inventory impacts the costs of goods sold as well as supports customer service”. Discuss the validity of this statementDescribe the supply chain for your university or college.Who are the suppliers, producers, and distributors in thissupply chain? Are there different supplier tiers? Howwould you evaluate this supply chain? Does inventory evenexist, and if it does, what form does it take?