Concept explainers
The Marker Maker© product recently experienced an unexpected surge in demand and the supply chain’s agility was credited with helping to meet the crisis. We have discussed four ways to classify operational inventories by how they are created. Regarding the ways managers can use these inventories to satisfy demand, explain how Crayola can achieve the flexibility to adjust to unexpected demand surges.
Want to see the full answer?
Check out a sample textbook solutionChapter 9 Solutions
Operations Management: Processes and Supply Chains (11th Edition)
Additional Business Textbook Solutions
Operations Management: Sustainability and Supply Chain Management (12th Edition)
Principles Of Operations Management
Business in Action
OPERATIONS MANAGEMENT IN THE SUPPLY CHAIN: DECISIONS & CASES (Mcgraw-hill Series Operations and Decision Sciences)
Operations and Supply Chain Management 9th edition
Business in Action (8th Edition)
- Explain the basic concepts of inventory control. Use the following guide for each part of the essay: Discusses what ABC analysis consists of for inventory control.Provide two (2) examples of how good inventory control can be maintained. ConclusionDiscuss strategies that an operations manager can use to keep costs related to carrying inventory down.arrow_forwardWhich of the following is NOT an objective of sales and operations planning? Establish greater accountability for individual plans developed by the various functional groups. Coordinate supply chain partners. Develop a maximum cost strategy for effectively meeting demands. Establish communication among various stakeholders, including finance, marketing, production, and suppliers.arrow_forwardManaging and keeping the inventory is a great challenged faced by the companies in today’s world. Companies have more focus on inventory management and they are also spending a huge budget on inventory management. Keeping this in mind, you are required to develop a relation between the inventory system for the large enterprises and its inventory intervals. Also explain, which is the best practice to use for Work in process inventory? Moreover, as a Production Operation manager what roles and responsibilities will you perform to complete the task assigned by the company?arrow_forward
- With the attached as reference, how can you justify the use of RFID to manage inventory?arrow_forwardEssentially, the planning of the purchasing and supply chain function entails managing the function for the future. Outline the purpose of the three levels of management within the context of the purchasing and supply chain function.arrow_forwardInventory Management You are the store manager at a local branch of DigiLife, a large electronics retail chain. A new version of a popular consumer electronics device called the Amulet is coming out this year. It is your job to sell as many Amulets as you can while minimizing your costs in order to maximize your store's profits. Your Goal Earn $1,000,000 in net profits of Amulet sales.arrow_forward
- Can you assist me with Question 5. Please right out the steps it's easier to understand verses on the excel spreadsheet. If you do it in excel can you make it easy to follow along to. Thank you kindly.arrow_forwardDiscuss how inventory control can help to balance and reduce costs?arrow_forwardA well-planned information and product flow provide a competitive advantage in terms of both prices and service levels. Automation of orders and supply chain management in accordance with real-time market needs is required to minimize the possibility of errors. Which of the drivers of supply chain excellence in your view is the most important in achieving the needed competitive advantage.arrow_forward
- Why would "Just in Case" or standard inventory management methods be favoured rather than "Just in Time?"arrow_forwardUsing the attached as a reference, justify why Ellie can use RFID to manage inventory.arrow_forwardPut this in other words. Analyze and elaborate this one. In the intricate orchestration of supply chain management, predictive analytics emerges as an indispensable conductor. Drawing upon colossal datasets from multifarious sources, predictive analytics unfurls a tapestry of precise supply and demand prognostications, meticulous inventory optimization, seamless logistics orchestration for punctual deliveries, anticipation of equipment maintenance exigencies, and the nimble adaptation to unforeseen contingencies. In this ever-evolving landscape, predictive analytics has metamorphosed into a critical lever for cultivating an agile and resilient supply chain, warding off disruptions, and laying the foundations for sustainable success.arrow_forward
- 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.