MARKETING
7th Edition
ISBN: 9781260087710
Author: Grewal
Publisher: RENT MCG
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Chapter 16, Problem 6MA
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To discuss: The advantages and disadvantages of just-in-time inventory system and whether it is suitable for Retailer X.
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- The retail industry uses inventory management techniques such as QR, EDI, barcoding and point- of-sale data capture. What does EDI stand for? O Electronic Data Information O Electronic Data Inventory O E-commerce Data Information O Electronic Data Interchangearrow_forwardHow could a retailer use inventory to increase the responsiveness of the company’s supply chain? Take any of the following retailers as an example, J dot, GulAhmed, United King, Naheed Super store. Using any example, compare and contrast the characteristics of an efficient supply chain and a responsive supply chain in all of the six drivers.arrow_forwardWhy is inventory management a critical operation in business? Can you name at least one major retailer that shot to the forefront of the industry simply because of its innovative inventory management mechanism?arrow_forward
- Why have just-in-time inventory systems become sopopular?arrow_forwardHow has technology aided inventory management? How have technological improvements is products such as automobiles and computer impacted inventory decisions?arrow_forwardWhat benefits does the Container Store provide?arrow_forward
- Critically examine the importance of managing quality and inventory management for IKEA.arrow_forwardWhat is a “supply chain,” and how are supply chains related to justin-time inventory procedures?arrow_forwardMattress Wholesalers, Inc. is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $7.46 million and inventory was $1.52 million. This year, costs of goods sold is $8.64 million and inventory investment is $1.61 million. a) What was its weeks of supply last year? Inventory Inventory = Sales per Week Cost of Sales/52 Weeks Weeks of Supply= - b) What is its weeks of supply this year? Inventory Inventory Sales per Week Cost of Sales/52 Weeks c) Is Mattress Wholesalers making progress in its inventory reduction effort? Since the number of weeks that cover the supply has Weeks of Supply = 10.60 (round your response to two decimal places). = 9.69 (round your response to two decimal places). F Mattress Wholesalers is making in its inventory-reduction effort.arrow_forward
- The following table shows financial data (year 2009) for two US retailers: Save-A-Lot Retailers and Wally’s Mart. Assume that both companies have an average annual holding cost rate of 20% (i.e. it costs both retailers $2 to hold an item for one entire year that they procured for $10). *Refer to attached image* How much lower, on average, is the inventory cost for Save-A-Lot compared to Wally’s Mart of a household cleaner valued at $50 COGS? Give your answer in terms of dollars. Assume that the unit cost of the household cleaner is the same for both companies and that the price and the inventory turns of an item are independent.arrow_forwardWhy did Gateway choose not to carry any finished-product inventory at its retail stores?arrow_forwardstudy the Inventory management by one of the major companies from any part of the world. For this company, Discuss the Challenges & Best practices with respect to the inventory management.arrow_forward
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Inventory Management | Concepts, Examples and Solved Problems; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=2n9NLZTIlz8;License: Standard YouTube License, CC-BY