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Some companies may choose to have a high level of inventory while other companies in the same industry may choose to have a low level of inventory. What factors need to be considered while determining a policy on the level of inventory? Provide a hypothetical example of inventory optimization. (Note: While describing the factors describe the points like Manager and function, purchasing cycle, Just in time (JIT), Access to vendors, Inventory
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- .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?the following data has been provided relating to one of the essential supplies that is utilized for Barloworld logistics operations. usage is approximately 10 brackets per day during the year. the brackets are purchased from a supplier 90km away and the costs incurred include holding costs per bracket per year of R1.50, order cost per order of R18.75. the lead time is 2 days and working days per year is 250 days. advise the management on the following inventory management issues. Examine the factors that you will prioritise at Barloworld in ensuring that inventory management adds value to the organisation and improves on its competitive advantage. what would be the economic order quantity? the annual inventory holding costs. how many orders would be made each year? what would be the annual order cost? what is the time between orders and the reorder point (ROP)?Briefly and exactly explain how does the inventory management impacts the performance of the supply chain .
- Use ABC analysis to identify the goods that need the most focus and inventory management.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 statement DetailyAs an element of supply chain management, inventory management includes aspects such as controlling and overseeing ordering inventory, storage of inventory, and controlling the amount of product for sale. With this regard,Discuss the approaches that can be implemented to minimise supply chaininventory.
- “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 statementList some products in your personal or family “inventory.” How do you manage them?Given the information provided below for Rockland, Inc., use the Total Supply Chain Cost Excel template in MindTap to compute the costs associated with the supply chain. The order quantity is Q = 11,000 units, and the supply chain operates 250 days per year. Transport Cost per Unit (Ct) $4.70 Cost to Store Order Cost One Unit (Co) $160 Order Lead Time in Annual Price per Demand (D) Unit (P) Oversight Cost per Unit (O) One Year (Ch) Days (L) 132,000 $7.85 $0.25 $9.60 10 What if the supplier asks you to increase your order quantity to 22,000 units for a price discount of one percent, would you accept the new deal? Do not round intermediate calculations. Round your answers to the nearest dollar. Order quantity: 11,000 units 22,000 units Total procurement cost: Total management oversight cost: Total annual transportation cost: Annual order cost: $ $ $ $ $ $ $ $ Annual holding cost: $ $ Average annual pipeline inventory cost: $ $ Total supply chain costs: $ $ If the supplier increases the…
- Hi please help me please, Read the screenshot and answer the following questions: 1. Dawn understands her customers very well. She knows that they want two things: (1) speed in getting the sandwich, no matter what type and (2) the sandwich must taste fresh. As Dawn works out how to improve her inventory management process, how can she utilize the ABC inventory classification system as part of the remedy for this situation? • Think outside the box. Consider which type of inventory she really needs to classify using the ABC classification system. 2. As we examine this case, we know that the basic issue is low inventory turnover. Consequently, the bins are overstocked during specific times and items must be discarded because they exceed the freshness quality time limit. As she considers this point, Dawn is debating if she needs to use the EOQ model or the EMQ model. Provide a recommendation to Dawn on which model would be the most effective for her situation. Explain why your choice is…good day please help me with this question you are required to critique the strategic importance of procurement and inventory based on its purpose in the supply chain (safety/buffer stock and seasonal stock) in relation to Nestle.Explain how inventory affects product improvement, quality, prices, and the ability to respondquickly to the marketplace.