How can this goal be achieved? Are there alternative solutions which might also be effective?
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A:
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A: The detailed solution of the answer is given in step 2.
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- Usha Handling Company is currently faced with an inventory rotation problem. This
difficulty stems from the fact that some supplies must be used prior to a stated expiration date.Upon receipt, a new shipment of these perishable items must be stacked beneath the boxes that are currently in inventory. A substantial amount of time is consumed in restacking the items according to their expiration dates. The company would like to reduce the double and sometimes triple handling of items. How can this goal be achieved? Are there alternative solutions which might also be effective?
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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.Green Gardens' owner has asked your advice about a possible problem at his business. Over the last 6 months the large-sized lawn and garden inventory (ie, tables, chairs, planters, etc.) has appeared to be short. The inventory records that employees use to determine what is on hand show that more inventory is available than can actually be located. This has cause frustration and mis-trust in the inventory records for the sales employees. The owner realizes that the problem is bigger than just frustrated employees. He is afraid that inventory is being stolen, a problem he didn't think possible given that these are large items that are not easily moved. Requirements: Provide the owner with two internal controls that he could implement to reduce the likelihood of theft of the lawn and garden inventory.Consider the company IKEA which manufactures and sells furniture. Describe the inventory that one would expect at IKEA.
- Why is inventory management not suitable for computer-assisted sequential processing?An organization can use ABC analysis as a way of classifying its existing inventory. Explain how the ABC can be appliedWhat is the significance of 80-20 rule in various fields? How could this be applied in managing inventory more efficiently? Explain.
- “The ABC Supply company is currently experiencing with an inventory rotation problem. This difficulty stems from the fact that some supplies must be used prior to a stated expiration date. Upon receipt, a new shipment of these perishable items must be stacked beneath the boxes that are currently in inventory. A substantial amount of time is consumed in restacking the items according to their expiration dates.” Required: Explain the DMAIC methodology that can be used by the “ABC” company to implement Six Sigma Process for the above scenario.What are the primary components of the Wilson approach, and how do they contribute to inventory optimization?UPD Manufacturing produces a range of health care appliances for hospital as well as for home use. The company has experienced a steady demand for its products, which are highly regarded in the health care field. Recently the company has undertaken a review of its inventory ordering procedures as part of a larger effort to reduce costs. One of the company's products is a blood pressure testing kit. UPD manufactures all of the components for the kit in-house except for the digital display unit. The display units are ordered at six-week intervals from the supplier. This ordering system began about five years ago, because the supplier insisted on it. However, that supplier was bought out by another supplier about a year ago, and the six-week ordering requirement is no longer in place. Nonetheless, UPD has continued to use the six-week ordering policy. According to purchasing manager Tom Chambers, “Unless somebody can give me a reason for changing, I'm going to stick with what we've been…