Q: What is vendor managed inventory (VMI), and what are some advantages and disadvantages of it?
A: Vendor Managed InventoryVendor-managed inventory (VMI) implies using local suppliers (example,…
Q: snip
A: Every organization sells either tangible or intangible products. A tangible product can be touched,…
Q: Describe how different forms of inventory are affected by factors such as lead time and lot size?
A: LOT SIZE: An order number shows the quantity of substantial commodity markets purchased in order to…
Q: List some products in your personal or family “inventory.” How do you manage them?
A: Some of the products are: Rice, Wheat, Tea/Coffee Powder, Milk Rice, Wheat, Sugar are products that…
Q: Defective materials returned to suppliers for replacement is part of inventory? Yes or No. Explain.
A: Manufacturing is the process of converting raw material into finished products and services for the…
Q: retailer use inventory to in
A: A retailer may decide to stock up so that the flow of products can be smooth but their is a need to…
Q: Explain briefly the elements of inventory management?
A: Inventory control is the process of purchasing, storing, and reusing a company's inventory. This…
Q: So, what precisely does finished-goods inventory serve?
A: Inventory of goods that have gone through entire process of manufacturing and have been turned into…
Q: why and how companies should manage inventory level?
A: Inventory level:- The amount of inventory you have available across your whole distribution network…
Q: inventory
A: In inventory is the stock of raw materials or it can be stock of semifinished goods or finished…
Q: What are the three phases in the inventory life cycle and why is it important to classify them…
A: Inventory life cycle refers to process involving planning for inventory for the input flow as well…
Q: Types of Inventory?
A: The four types of inventory are: Raw materials Work-in-progress Finished goods Other inventory…
Q: Inventory items that belong in the A category include
A: The ABC classification of the given inventory item can be done as follows:
Q: Develop a lot-for-ot solution and calculate total relevant costs for the gross requirements in the…
A: Find the Given details below: Given details Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross…
Q: What is Consignment Inventory? Advantages and disadvantages of Consignment Inventory for Vendors?
A: Inventory management aids businesses in determining which goods to order and when to order them. It…
Q: How are inventory levels monitored in retail stores?
A: Inventory or Stock refers to all the goods and material that a company holds to either use as raw…
Q: Explain Vendor-managed inventory?
A: Vendor-managed inventory (VMI): It is a well-designed approach to inventory management. In vendor…
Q: What are the four types of inventory? Give an example of each at Frito-Lay.
A: Inventory is a set of materials or products used for the production of the firm and to sell into the…
Q: Why does the service level depend upon the number of orders per year?
A: Let’s first understand the concept of what is meant by Service level and how does that depends on…
Q: Briefly describe each of the costs associated with inventory.
A: The handling of inventory by organization leads to many types of costs that must be borne and…
Q: Expound material requirement planning as inventory management technique
A: Material requirements planning (MRP) is a method for determining the materials and elements required…
Q: What factors cause the company to carry minimal amounts of certain inventories? What benefits result…
A: Sometimes it happens that if the organization maintains a high level of inventory for the final…
Q: What are the advantages of ordering in small lot sizes for Just-in-Time implementation?
A: Small lot sizes are necessitated for Just-in-Time installs due to the availability of space due to…
Q: Give 3 examples of inventory risk.
A: Inventory risk is nothing but the likelihood of an enterprise being not able to sell its product or…
Q: List the different types of inventory.
A: Inventory is the materials such as raw materials, finished products, in-process goods that are…
Q: what precisely is the role of finished-goods inventory in a business?
A: Below is the solution:-
Q: Describe vendor-managed inventory (VMI). How is it related to outsourcing?
A: Inventory management can be stated as the approach to management or administration of the…
Q: How does the purchase connection to the classic EOQ model work?
A: EOQ Model: EOQ stands for Economic Order Quantity and this model will help to find…
Q: Decide on at least three distinct parties involved in the requirements collecting process
A: Below is the solution-
Q: What are the benefits of just-in-time purchasing (JITP)?
A: Just-in-time: JIT (just-in-time) buying is a cost-cutting technique in which you buy the smallest…
Q: Inventory records provide a wide range of information on the items exist,which do not, and which…
A: Here, Question has asked about the Inventory records that provide a wide range of information on the…
Q: State and explain in brief any five types of inventory on the basis of classification of its types?
A: Goods that are stocked or stored for immediate or near future use by the company or corporation are…
Q: What is the reason for a manufacturing organization to need three separate types of inventory?
A: Below is the solution:-
Q: Discuss what is stock out cost , carrying cost in inventory management?
A: STOCK OUT COST: A stock out cost generally referred to as all the costs that are associated with an…
Q: Which one of the following represent FIFO method of inventory evaluation? a. Old items remain in…
A: The Random Service method- In this method, the elements or customers to be processed first are…
Q: List and briefly explain three methods of checking stock materials in electrical workshops
A: Below is the solution:-
Q: How can collaborative cost management of inventory for manufacturers in the United States be managed
A: Collaborative Cost Management (CCM) has different applications across the item lifecycle.…
Q: Describe what is the origin and basic concepts of inventory problems and what are they ?
A: Inventory management is obtaining, holding, and selling inventory, which may consist of raw…
Q: Describe what is carrying cost in inventory management?
A: Carrying costs are the costs associated with storing stocks in warehouses or retailers.…
Q: Discuss the meaning of inventory analyses by ABC. Name a number of actions that can identify the…
A: Inventory management entails keeping track of inventory over time, tracking inventory in storage,…
Q: Discuss what is carrying cost in inventory management?
A: Supply chain management is the management in which raw materials and resources are converted into…
Q: Explain cost must be balanced and minimised through inventory control?
A: Inventory management is the practice of ensuring that the right amount of products are available at…
Q: Explain how are inventory levels monitored in retail stores
A: All commodities and resources utilized or sold to the public by a firm are referred to as inventory…
Q: What is determined by the order penetration point?
A: The order penetration point establishes the following: The order penetration point is the stage in…
What function does finished-goods inventory play?
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