Describe how inventory expenses must be balanced and kept in minimum though inventory control?
Q: What are the two questions that inventory control addresses?
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Q: Discuss what are just in time inventory benefits and drawbacks for a business?
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Q: Discuss the ABC inventory classification system and indicate it's benifits?
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Q: Describe how the objectives of inventory management canbe measured.
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Q: Explain the basic insight that inventory models offer and why are inventory problems so common?
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Q: Explain INVENTORY PLANNING AND ACCURACY?
A: Inventory planning is the process that can be used by any organizations in order to determine the…
Q: Discuss what is the cause of inventory issues and what fundamental principles does it reveal?
A: The industrial process cannot run without inventories. As a result, management must be vigilant in…
Q: Why are inventory problems so prevelent and what basic insights do inventory models provide?
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Q: Discuss the kind of information that is shown in a perpetual inventory record?
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Q: explain how does inventory impact the financial health of a business?
A: Inventory management is either a source of success or a source of the decline in business.
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Q: What is the purpose of inventory control?
A: A computerised inventory control system integrates all facets of inventory management into a single…
Q: Explain what are the advantages of inventory control?
A: Inventory control benefits include the ability to maintain a minimum and maximum level of inventory…
Q: Why are inventory problems so prevalent and what basic insights do inventory models provide?
A: We know the inventory is a major component of the production. So management has to take every…
Q: Describe the ABC inventory classification system and indicate its benefits?
A: Inventory management is the process of purchasing, keeping, and using the inventory of a business.…
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A: We are all aware that goods may be perishable or non-perishable. Perishable products, such as…
Q: Explain what are just in time inventory pros and cons for a business?
A: Inventory refers to the storage, products, and resources that a business has on hand for resale in…
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: Explain why inventory difficulties are so widespread and what basic insight inventory models…
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Q: What factors and how do they effect the inventory carrying cost? The cost of funds for the…
A: The inventory carrying cost: Inventory carrying cost is the sum of all charges associated with…
Q: Describe the basic insight that inventory models offer and why are inventory problems so common?
A: We understand the critical nature of inventory management in the production process. As a result,…
Q: Discuss the ABC inventory classification system and indicate it's advantages?
A: Inventory management is the process of ordering, storing, and utilising the inventory of a business.…
Q: Discuss with examples the two methods of inventory control. Which method do you think is better for…
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Q: Discuss how inventory expenses must be balanced and kept to q minimum through inventory control
A: The inventory control mechanism is defined as the process of maintaining the business's stock level…
Q: Describe what are just in time inventory advantages and disadvantage for a business?
A: Inventory refers to the storage, products, and resources that a business has on hand for resale in…
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Q: Explain how inventory expenses must be balanced and kept to a minimum through inventory control?
A: Inventory control is a way for a business to maintain a regular stock level in order to meet…
Q: Explain the ABC inventory classification system and indicate it's pros?
A: Inventory management is the process of ordering, storing, and utilizing a business's inventory. This…
Q: Describe how in inventory analysis, the reorder point and lead time are related
A: The reorder point (ROP) has been the quantity of stock that triggers a replenishment activity. It is…
Q: What is the cause of inventory issued and what type of fundamental principles does it reveal?
A: Without an inventory, the industrial process cannot function. As a result, management must exercise…
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A: Inventory costing technique: It is consistent with saying that the Inventory Costing technique is…
Q: Why Keep Inventory?
A: Definition: The inventory of the company is all the materials utilised which are raw for…
Describe how inventory expenses must be balanced and kept in minimum though inventory control?
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- explain , How can businesses implement effective demand planning processes to support inventory management?Discuss costs must be balanced and minimised through inventory control ?Mr. Waleed is running furniture manufacturing business. He required raw material on regular basis.He uses the best suitable methods of purchasing of material.He tried to used preparation of inventor budgets, perpetual inventory system, just-in- time, ABC analysis but none of the above suited to his business.Once he had to stop his production, when he was using Just-In- Time purchasing method. One day Mr.Waleed explain all the cost details to his cost accountant as follows: The normal usage was 50 Units.In case of low demand his minimum usage was only 25 units. During high demand time Mr. Waleed used to purchase 75 units.Mainly he required two types of raw material like Material 1 and Material 2, His reorder quantity for Martial 1 was 300 Units & For Material 2 was 500 Units.His cost accountant told him that they need 40 Units as average. Mr. Waleed was very good at planning, but in case of emergency he used to wait 1 day for material 1 and 2 days for material 2 to get…
- What role does inventory management play in an overall business plan and describe the benefits of just in time inventory management.Describe one of the methods for managing cash disbursements or cash receipts and how it impacts profitability.Calculate the parameters of the inventory management system for ongoing analysis and regular review.What is an inventory model, and how does it work?