Discuss ways (at least 3) in which a company can reduce the need for inventories?

Q: MRO (maintenance, repair, operations) items are examples of ______. noncritical purchases strategic…

A: MRO (Maintenance, repair, operations) items are important to purchase to ensure the processes are…

Q: Cycle inventories are used to: Select one: A. reduce the number of setups. B. protect against…

A: Businesses use cycle inventories as a form of inventory management strategy to manage their stock of…

Q: Suppose you need to choose one of the three available models X,Y, and Z of certain service…

A:

Q: Safety is a very important matter in store management. All materials must be stored so as tominimize…

A: It is important to ensure the timely delivery of the goods to the customers. Warehouses perform an…

Q: Perform an ABC analysis of the data. Based on the results obtained, which element is classified as…

A: Here, for each SKU, I am given the table data that includes the annual demand and cost per unit…

Q: What causes inventory problems, and what do they say about fundamental principles?

A: The manufacturing process would be unable to function without stock. As a consequence, management…

Q: Define inventory. What are the different types of inventories maintained throughout the value…

A: The inventory covers all the goods, materials, and items that are manufactured and stored by the…

Q: Please provide an example of how an engineer keeping track of functional and non-functional demand…

A: Let's say an engineer is working on designing a new software application for a client. To ensure…

Q: What comprises the cost of inventories?

A: Inventory cost possesses the costs to order & hold inventory, as well as to assist with the…

Q: Safety is a very important matter in store management. All materials must be stored so as tominimize…

A: Warehouses play an important role in storing the materials in a proper manner. A warehouse or store…

Q: Explain the technique that are useful in managing inventories effectively & efficiently?

A: Inventory management: Inventory is a set of materials or products used for the production of the…

Q: What potential benefits and risks do RFID tags have for inventory management?

A: Radio Frequency Identification (RFID) Tags Keeping track of inventories in-house and throughout a…

Q: Assuming that you are a supply chain manager of a local electric bike shop. In the past 5 years, you…

A: COVID has severely impacted the supply chain. It is because of the pandemic only that many people…

Q: You are completing your audit of LTC Ltd, an importer of cell phones from Taiwan. Total sales this…

A: Given that, Population 120 $5,200,000 Sample 30 $2,080,000

Q: Which of the following is least likely to be included in an auditor's inquiry of management while…

A: An essential communication that identifies instances or suspicions of fraudulent actions inside an…

Q: 19) In which technique of material control, materials constitute small percentage of total items,…

A: Inventory management is the management in which stock is sourced, stored, and sold in the market as…

Q: ____ is not a driver of supply chains a. Six Sigma b. Inventory c. Transportation d.…

A: The factors that drive any supply chain may be used to evaluate its performance.

Q: what has been sold and what has been searched. by the same token, production manager's should decide…

A: Inventory management is a systematic approach to sourcing, storing, and selling inventory- both raw…

Q: Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Woodwork limited manufactures luxury furniture for resale to big shops. It does not keep inventory…

A: The correct answer is “Just-in-Time system”.

Q: why should inventories be controlled?

A: On the off chance that the business requires keeping an inventory, business at times feels like they…

Q: Carter Company is trying to decide whether or not to change from a traditional inventory system to a…

A: Inventory management plays a critical role in the smooth functioning of businesses, influencing…

Q: QN1. Despite the strategic role of warehousing and inventory operations among organizations today,…

A: In the contemporary corporate environment, warehousing and inventory management are essential tasks…

Q: A supply chain that must deal with high levels of both supply and demand uncertainty.

A: A supply chain that must deal with high levels of both supply and demand uncertainty is known as the…

Q: Why There are Now So Many Shortages (It's Not COVID) REQUIRED: Write a reflection paper about the…

A: Worldwide shortages of numerous merchandise mirror the interruption of the pandemic joined with many…

Q: b) As a local car manufacturing company, illustrate the various types of inventory flowing through…

A: ANSWER: Various types of inventory flowing through the supply chain from the supplier to end…

Q: Justify why a reduction in setup time will result in a reduction in the average amount of inventory…

A: The primary goal of today's JIT development is to have small lots of material on a regular basis.…

Q: What value of Z should be​ applied? ▼ 1.28? 2.06?  1.04? or 1.65? Part 3 ​b) How many drives should…

A: Given, Mean m = 50 units Standard deviation s = 5 units Service level = 98%

Q: Explain ‘Inventory Turnover’ KPI. Is high or low value desired for Inventory Turnover? Why

A: Inventory is the term used to refer to the products available for sale and the raw materials used to…

Q: With the attached as reference, how can you justify the use of RFID to manage inventory?

A: RFID known as radio frequency identification contains two components that are tags and readers. The…

Q: a) Setup cost = $ (round your response to two decimal places).

A: Q = 240Annual demand (D) = 32450Daily demand (d) = 110Holding cost (H) = 10Daily production (p) =…

Q: Why is there a need to balance the inventory needs with customer’s needs?

A: Most businesses work with tangible goods. The goods can be for use or for the sale. Inventory is the…