You've just been appointed as the new regional manager at a supermarket, and your first task is to decide on the replenishment order. What inventory cost should you consider for your first order?
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You've just been appointed as the new regional manager at a supermarket, and your first task is to decide on the replenishment order. What inventory cost should you consider for your first order?
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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 McDonald’s fast-food restaurant on campus sells an average of 4,000 quarter-pound hamburgers each week. Hamburger patties are resupplied twice a week, and on average the store has 350 pounds of hamburger in stock. Assume that the hamburger patties cost $1.00 a pound. What is the inventory turnover for the hamburger patties? On average, how many days of supply are on-hand? (Answer in Appendix D)Provide an example or a scenario describing a particular method of inventory, and explain why the method of inventory fits the scenario provided.
- Womble Inc. has beginning inventory of $200 and an ending inventory of $400 for a given periodin which it purchased $13,400 worth of materials. What is the dollar amount of materials used inthis period?Describe how would factors like lead time and lot size impact different types of inventory ?Discuss why inventory is an important consideration for managers. Be sure to provide examples to illustrate your understanding of these concepts.
- Define the term "inventory turn" and discuss why it is an important indicator of an organization’s profitability. Give an example of an item that would have a fast turn and a slow turn.Inventory can be: A) final products B) work-in-process C) raw materials D) A or B above E) A, B or C above T or F Logistics management is the primary process of supply chain management. T or F The Economic Production Quantity depends in part on the maximum inventory and setup costs.Briefly describe the concept of inventory management and how it can help the organization in supporting effectiveness and efficiency?
- Describe how in inventory analysis, the reorder point and lead time are related ?Explain the type of inventory system that one would you use for the following situations Supplying own kitchen with fresh food Obtaining a daily newspaper Buying gas for ones carWhat does a decrease in inventory days tell us?