___ model of inventory control involves placing an order when inventory levels reach re-order level a. Q b. P c. Fixed-time period d. ABC Analysis
Q: Which of the following does NOT belong to ordering costs? A. interest payments B. clerical…
A: Ordering costs refers to the expenses which are paid by the firm starting from purchasing the…
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A: Following are the types of costs associated with the inventory of any organization: Ordering cost.…
Q: Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out…
A: According to the FIFO method, the inventory which comes first in the warehouse will be sold first.…
Q: ) How would you teach the congruence model to your peers? W
A: The congruence model for a business is a change management process that examines the performance of…
Q: Identifying true or false: I - Just-in-time purchasing is guided solely by the economic order…
A: Just in time is described as the method of inventory management in which suppliers provide the goods…
Q: ccording to Weele, why should we measure the purchasing function
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Q: What is Inventory Control and its Objectives?
A: Inventory control ensures an adequate supply of items by supervising their demand, storage, and…
Q: 2. It is an inventory strategy a company employs to increase efficiency and decrease waste by…
A: Just in time is a method that helps to increase efficiency and reduce waste. This is done by getting…
Q: What is the purpose of inventory control?
A: A computerised inventory control system integrates all facets of inventory management into a single…
Q: Stocks have high levels of demand at certain times of the year: Select one: a. Cycle stocks b.…
A: Demand is the amount of a good that buyers are willing and ready to buy at different costs during a…
Q: / Fill in the blanks with appropriate words: d) The number of ordering during the year is known as…
A: Economic Order Quantity is used for an incessant analysis of inventory system in which the inventory…
Q: Which of the following is NOT one of the major causes of the bullwhip effect? A. demand forecast…
A: The bullwhip effect means a condition in which the supply chain of an organization puts pressure to…
Q: Most inventory models attempt to minimize
A: Answer: Option : d) The total inventory-based costs
Q: Genuine Reproductions (GR) plans on increasing nextyear’s sales by 20 percent while maintaining its…
A: Given that, Average inventory = $250,000 Increase in next year sale = 20%
Q: Uncommitted inventory is called a. Free inventory b. Safety stock c. Obsolete inventory d.…
A: Inventory is the products or material that an organization produce to achieve the desired goal.
Q: . The overall objective of inventory management is to achieve satisfactory levels of customer…
A: Concept Introduction Inventory Management can be define as a process where plans are made to…
Q: Explain why is necessary to maintain inventory control?
A: Inventory is the stock material held by a business so that it may be distributed instantly to the…
Q: inventory units are withdrawn from the latest inventory held by the company for the sales or…
A: The correct option is the "b" Last in First Out method.
Q: Which of the following hold the most for a period review inventory system? a. Uses two bin method…
A: With the periodic survey framework, we can decide the amount of a thing your organization has…
Q: All EXCEPT which of the following statements about ABC analysis are TRUE? O In ABC analysis,…
A: ABC analysis is an inventory management technique which categories the inventory based on the…
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A: Income per accessible room (RevPAR) is an exhibition measure utilized in the accommodation business.…
Q: Rebar Company prepared the following analysis of its year-end inventory on December 31. First,…
A: Product Quantity Historical cost per unit Replacement cost per unit Total cost=Quantity*Historical…
Q: Which one of the following represent FIFO method of inventory evaluation? a. Old merchandise is sold…
A: First-in first-out (FIFO) is an inventory management method in which the products that are generated…
Q: A manufacturer of hospital supplies has a uniform annual demand for 80,000 boxes of bandages. It…
A:
Q: Which of the following is less likely to represent an inventory ordering cost? a. Warehousing costs…
A: Inventory costs are every expense linked with ordering, holding, and maintaining the inventory or…
Q: Subject: Logistic management Q): What are the concern of inventory control & overall objective of…
A: Inventory management:- Businesses may decide which goods to order when and in what amounts by using…
Q: entory order is placed when O a. None of these O b. Only when projected or actual on hand stocks are…
A: The correct answer is
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A: Demand forecasting gives businesses vital information about their potential in their current market…
Q: Which report accounting method shows an overview of the money received and spent for a specific…
A: Answer: Accrual Basis Explanation: As per accrual basis, the amount received for a specific period…
Q: Overall Objective of inventory management is to O a. keeping the lowest inventory on hand to reduce…
A: Reliability in the product shows its worth and ensures that the product will not fail when required…
Q: Inventory is not a property that is acquired for the purpose of resale in a business activity.
A: Inventory is a kind of asset that is bought and sold in the normal course of business. It's possible…
Q: Inventory in excess of expected demand to compensate for variability and lead time is_ a. Temporary…
A: Buffering inventories area unit the inventories kept for future wants of a corporation as there is…
Q: Inventory is considered an important driver of supply chain performance. Effective inventory…
A: A company needs to balance its efficiency with responsiveness in its supply chain so as to suit its…
Q: When order requests come in, the designers of Modern Furniture often go to a client's location to…
A: 7. When order requests come in, the designers of Modern Furniture often go to a client's location to…
Q: Which of the following is true for inventory control: Select one a . Economic order quantity has…
A: Answer- (B) All the Options are correct. It means inventory control has: Economic order quantity…
Q: Which of the following procedures will best detect the theft of valuable items froman inventory that…
A: Inventory is the term which is defined as the goods as well as materials that the business holds for…
Q: Net requirements =a) Gross requirements + Allocations − On-hand inventory+ Scheduled receipts.b)…
A: Let’s first understand the meaning of Net Requirements. Net requirement can be simply explained as…
Q: When the supplier provides only what is needed when it is needed this is known as O a. Independent…
A: Suppliers and vendors- the terms are utilized reciprocally here-can do considerably more than only…
Q: a. ABC reports annual sales of $ 5 million, annual cost of goods sold is $ 2 million. Inventory is $…
A:
Q: X Ltd buys & uses a component for production at 10/piece Annual requirement is 2000 pieces. Carrying…
A: Given: Annual Requirement (A) = 2000 units Ordering cost (O) = 40 per order Carrying Cost (C)= 10%…
Q: multiple choice: Which of the following statements regarding food storage is TRUE? A. Weekly…
A: The correct option is option b. stored items should be used on a first-in, first-out basis.
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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.Thomas Kratzer is the purchasing manager for theheadquarters of a large insurance company chain with a centralinventory operation. Thomas’s fastest-moving inventory item hasa demand of 6,000 units per year. The cost of each unit is $100, and the inventory carrying cost is $10 per unit per year. The aver-age ordering cost is $30 per order. It takes about 5 days for an order to arrive, and the demand for 1 week is 120 units. (This is acorporate operation, and there are 250 working days per year.)a) What is the EOQ?b) What is the average inventory if the EOQ is used?c) What is the optimal number of orders per year?d) What is the optimal number of days in between any two orders?e) What is the annual cost of ordering and holding inventory?f ) What is the total annual inventory cost, including the cost ofthe 6,000 units?Kindly illustrate the advantages and disadvantages of Re-Order Point Management and Re-Order Cycle Control Inventory Control Systems in brief.
- Green Grass Industries Limited (GGIL) has used a fixed-time period inventory system that involved taking a complete inventory count of all items each month. However, increasing labor costs, are forcing GGIL, to examine alternative ways to reduce the amount of labor involved in inventory stockrooms, yet without increasing other costs, such a shortage costs. Table 10 is a random sample of 20 GGIL's items. Table 10. Annual Usage by Value of a sample of GGIL's Inventory Item Number Annual Usage ($) Item Number Annual Usage ($) 1 10,600 11 2,750 2 14,000 12 1,400 3 4,000 13 3,200 4 16,000 14 2,500 5 8,100 15 110,000 1,800 16 14,800 7 84,000 17 9,500 8. 890 18 1,700 9 940 19 3,700 10 94,000 20 12,500 a) What would you recommend GGIL to do to cut back its labor cost? (Illustrate using an ABC plan). b) Item 18 is critical to continued operations at GGIL. i. How would you recommend it be classified? ii. Give the reason(s) for your answer.How Do Inventory Control Systems Work? Inventory cost constraint Production capacity constraint Forecast demand > Product variety Production Production outline Production time planning system Market orders + Production quantity Production lead- Equip preventive time constraint maintenance constraintGive A brief introduction about different types of models used in Inventory Control (EOQ - EBQ - Probabilistic Demand).
- What is the ABC analyses! fundamental premise? What are the three measures involved in performing an ABC inventory analysis?Discuss what is meant by ABC analysis of inventory.Name several measures that can determine ABCstatus(Academic) ns Management Fall20 Which of the following hold the most for a Periodic review inventory system? Select one: O a. Does not require continuous monitoring of inventory O b. Uses two bin system method for ordering inventory O c. The order quantity remains the same O d. It is always used method of finventory management system by large companies F4 F5 F6 F7 F8 F9 F10 F11