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For a product of your choice, describe and explain the following A one or two sentence description of your chosen product:  What type of demand does this firm face (dependent / independent) for this product, and why?  Should the firm use the push / pull method for the production of this product, and why?  Does the concept of yield management apply to this product? How? If not, why not?  For a specific component / raw material necessary to produce / "create this"product, should the firm use a single-period or a multi-period inventory order model, and why?  For each type of inventory (raw material inventory, work-in-process inventory, and finished goods inventory), should the firm carry any safety stock? Why?

For a product of your choice, describe and explain the following A one or two sentence description of your chosen product:  What type of demand does this firm face (dependent / independent) for this product, and why?  Should the firm use the push / pull method for the production of this product, and why?  Does the concept of yield management apply to this product? How? If not, why not?  For a specific component / raw material necessary to produce / "create this"product, should the firm use a single-period or a multi-period inventory order model, and why?  For each type of inventory (raw material inventory, work-in-process inventory, and finished goods inventory), should the firm carry any safety stock? Why?

Marketing
Marketing
20th Edition
ISBN:9780357033791
Author:Pride, William M
Publisher:Pride, William M
Chapter19: Pricing Concepts
Section: Chapter Questions
Problem 6DRQ
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For a product of your choice, describe and explain the following

  1. A one or two sentence description of your chosen product: 
  2. What type of demand does this firm face (dependent / independent) for this product, and why? 
  3. Should the firm use the push / pull method for the production of this product, and why? 
  4. Does the concept of yield management apply to this product? How? If not, why not? 
  5. For a specific component / raw material necessary to produce / "create this"product, should the firm use a single-period or a multi-period inventory order model, and why? 
  6. For each type of inventory (raw material inventory, work-in-process inventory, and finished goods inventory), should the firm carry any safety stock? Why? 

 

a. Product Description

 

 

b. Dependent / Independent Demand

 

 

c. Push / Pull

 

 

d. Yield Management

 

 

e. Single-period / Multi-period

 

 

f. Safety Stock- Raw Material

 

 

Safety Stock - Work-in-Process

 

Safety Stock - Finished Goods

 

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