OPERATIONS MANAGEMENT (LL)-W/ACCESS
17th Edition
ISBN: 9781260037821
Author: CACHON
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 10, Problem 5PA
Summary Introduction
To determine: The annual inventory turns.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Why are physical inventory counts made when a perpetual inventory system is used?
a. Same as last year principle requires it
b. It verifies inventory numbers recorded
c. SEC recommends it
d. CFO typically has doubts about the purchasing department
24 . Which model of the following has been used to calculate the Inventory cost:
Average inventory * hours* Inventory Cost
(Start inventory + End inventory) * hours* Inventory Cost
Average (Start inventory + end inventory) * inventory cost
None of the above
Inquiries of warehouse personnel concerning possibly obsolete or slowmoving inventory items provide assurance about management’s assertion ofa. Completeness.b. Existence.c. Presentation.d. Valuation
Chapter 10 Solutions
OPERATIONS MANAGEMENT (LL)-W/ACCESS
Ch. 10 - It is costly to hold inventory, but inventory can...Ch. 10 - A delivery truck from a food wholesaler has just...Ch. 10 - Prob. 3CQCh. 10 - Prob. 4CQCh. 10 - Prob. 5CQCh. 10 - Prob. 6CQCh. 10 - Prob. 7CQCh. 10 - Prob. 8CQCh. 10 - Prob. 9CQCh. 10 - Prob. 10CQ
Ch. 10 - Prob. 11CQCh. 10 - Prob. 1PACh. 10 - Prob. 2PACh. 10 - Prob. 3PACh. 10 - An electronics manufacturer has 25 days-of-supply...Ch. 10 - Prob. 5PACh. 10 - Prob. 6PACh. 10 - Prob. 7PACh. 10 - Prob. 8PACh. 10 - An online shoe retailers annual cost of holding...Ch. 10 - Prob. 10PACh. 10 - Prob. 11PACh. 10 - Prob. 12PACh. 10 - Prob. 13PACh. 10 - Prob. 14PACh. 10 - Prob. 15PACh. 10 - Prob. 16PACh. 10 - A retailer has annual sales of 500,000 and an...Ch. 10 - Prob. 18PACh. 10 - Prob. 19PACh. 10 - Prob. 1CCh. 10 - Prob. 3CCh. 10 - Prob. 4C
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- Knowing how to use the ABC analysis, make up a list of 10 items in a stores inventory, then decide which 10 items sold at the store would constitute 80% of the revenue and create a Word document using the ABC analysis.arrow_forwardA company that markets hypodermic needles to hospitals. The company purchases the needles from a supplier. The annual demand is 6,603 needles. The annual setup (or ordering) cost is $31 per order and the inventory holding cost per unit per year is $11.35. The company operates 293 days a year. Calculate the optimal annual holding cost for the company.Use at least 4 decimal places.arrow_forwardStaples buys printer cartridges for $20. The demand for the cartridges is 300 per month. Staples incurs a fixed cost for managing the cartridges of $100. Their annual holding cost is 20%. Calculate Inventory turns per year Number of orders Staples makes per year.arrow_forward
- 2. It is an inventory strategy a company employs to increase efficiency and decrease waste by receiving and producing goods as they are needed in the production process, thereby reducing inventory costs. a.Just In Time Inventory System B.min-Max Inventory System C.Pareto/80-20 inventory rule D.ABC inventory system E.None of the abovearrow_forwardDescribe and illustrate the inventory turnover and the days' sales in inventory in analyzing the efficiency and effectiveness of inventory management. do not give me plagiarised answerarrow_forwardYou are the operations manager of a firm that uses the continuous review inventory control system. Suppose the firm operates 252 days a year and has the following characteristics for its primary item: Demand = 25,000 units/year Ordering cost = $30/order Holding cost = $1/unit/year Lead time = 4 days Standard deviation in daily demand = 10 units What is the total holding cost per year, including annual holding cost for safety stock (to the nearest whole number)? (Service level=95%) answer is 645 but why?arrow_forward
- The National Company uses 150,000 gallons of hydrochloric acid per month. The cost of carrying the chemical in inventory is 50 cents per gallon per year, and the cost of ordering the chemical is P150 per order. The firm uses the chemical at a constant rate throughout the year. It takes 18 days to receive an order once it is placed. The reorder point is (Operating days is 360/year)arrow_forward####### In periodic inventory review policy, a lot size is calculated based on the difference between ____ and on-hand inventory. (a) average demand during lead time (b) reorder point (ROP) (c) order-up-to level (OUL) i want answer within 1 hour, i will upvote if you provide answer within 1 hour. Thanks in advance.arrow_forwardDiscuss the nature of the costs that affect inventory size.arrow_forward
- The objective of inventory management is to minimize inventory costs while A.having only enough supplies on hand as needed for production or resale. B. increasing stockouts. C. facilitating electronic data interchange. D. maintaining an adequate supply of goods to satisfy customers. E. eliminating safety stock.arrow_forwardCompany XYZ makes bicycles. XYZ produces 400 bicycles a month. They must buy tires from a supplier at a cost of $20 per tire. The inventory holding cost rate is 15% and ordering costs $50 per order. Part i) Let’s assume that there is no shortage inventory allowed. Calculate optimal annual order quantity Calculate annual total inventory cost ^already have the answer for this one. Just input the whole question so it would make more sense. Part ii) Let’s assume that shortage inventory is allowed. With that being said, we know that the shortage cost per unit of item is $5 per year. <<this is the one that I am stuck on. Calculate optimal annual order quantity Calculate annual total inventory cost Hint: Each bicycle has two tires.arrow_forwardAll the statements concerning reasons to hold inventory are true Except: To meet variations in demand To allow inflexible production schedules To take advantage of price discounts As a safeguard against variations in delivery timearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill EducationOperations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage LearningProduction and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.
Inventory Management | Concepts, Examples and Solved Problems; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=2n9NLZTIlz8;License: Standard YouTube License, CC-BY