Especially for wholesalers and retailers involved in the distribution channels for consumer packaged goods, inventory management is a careful balancing act between: supply and demand. controlled supply and variable demand. lower inventory levels and acceptable customer service levels. variable inventory levels and consistent customer service levels.
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- ABC Corporation is a large manufacturing company that has been using an outdated inventory management system for the past 10 years. The system has become slow and unreliable, causing delays in production and shipping. The IT department has recommended replacing the system with a modern cloud-based solution that can be accessed from anywhere and has the potential to integrate with other business systems.After a thorough evaluation of several vendors and their products, the IT team has recommended the purchase of a system called "InventoryPro". The system has a user-friendly interface, robust reporting capabilities, and is scalable to accommodate future growth.The CEO has approved the project, and the IT team has started working on the implementation plan. The project team includes a project manager, business analyst, database administrator, software developer, and testing specialist.As part of the project plan, the team will need to migrate the data from the old system to the new one,…You are working in a food manufacturing company assigned to the Production Department. You have observed that some of the raw materials in the Warehouse are not properly utilized by the production team. These raw materials are perishable and have short shelves life. The unutilized raw materials were due to the excessive inventory purchase by the company as it failed to plan its production activity. This has also increased the spending of the company, decreasing the company's profit. As the controller, what are the actions you may implement to control the situation?Prior to accepting a customer’s order, a company should verify the amount of inventory on hand. Which of the following is not a reason to do this? Determine whether inventory records are accurate. Ensure accuracy of inventory records by reducing the amount by items order. Identify which products should be ordered from suppliers. Communicate to the customer when shipment will be sent.
- At a recent manufacturing workshop, XYZ, Incorporated explained that demand for disposable masks increase rapidly in March 2020 when quarantine mandates first took effect. At the time, retailers could only place a single order to cover demands through the end of the summer. A certain retailer purchased disposal masks from a supplier at a cost of $20 per unit and sold them for $30 per unit. By the end of summer, demand for masks subsided considerably and all masks that weren't sold during the summer could be sold at a discounted price of $18 per unit. The retailer estimated that demand between March and August would be Normally distributed with mu = 10,000 and sigma = 1525 units With, supply chains becoming more stable since March 2020, the retailer is currently in the process of establishing a contract with a disposable mask supplier. The supplier has agreed to sell masks to the retailer for $18 per unit and will make deliveries any time the supplier places an order for a cost of $100…Charlie’s Pizza orders all of its pepperoni, olives, anchovies, and mozzarella cheese to be shipped directly from Italy. An American distributor stops every four weeks to take orders. Because the orders are shipped directly from Italy, they take three weeks to arrive. Charlie’s Pizza uses an average of 150 pounds of pepperoni each week, with a standard deviation of 30 pounds. Charlie’s prides itself on offering only the best quality ingredientsand a high level of service, so it wants to ensure a 98 percent probability of not stocking out on pepperoni. Assume that the sales representative just walked in the door and there are currently 500 pounds of pepperoni in the walk-in cooler. How many pounds of pepperoni would you order? (Answer in Appendix D)A distribution network provides a number of items or services is known as Select one: Product variety Response time Order visibility Product availability The interaction between a customer and a retailer is primarily in terms of three flows. Which of these items is NOT one of the flows? Select one: Information Product Funds Contracts
- A hotel has a standard rate of $150. One of the distribution channels used by the property has a selling cost per room sold equal to 13% of the standard rate. Find the channel’s net ADR yield.Charlie’s Pizza orders all of its pepperoni, olives, anchovies, and mozzarella cheese to be shipped directly from Italy. An American distributor stops by every four weeks to take orders. Because the orders are shipped directly from Italy, they take three weeks to arrive. Charlie’s Pizza uses an average of 150 pounds of pepperoni each week, with a standard deviation of 30 pounds. Charlie’s prides itself on offering only the best-quality ingre- dients and a high level of service, so it wants to ensure a 98 percent probability of not stocking out on pepperoni. Assume that the sales representative just walked in the door and there are currently 500 pounds of pepperoni in the walk-in cooler. How many pounds of pepperoni would you order?What is the net ADR yield given the following information: ADR = $180 Distribution channel costs = $40
- In the retail coffee industry, with many mom-and-pop coffee stores and retail coffee shows, the number of competitors in the industry is high. In such a case, most coffee houses use beans and other ingredients to create different blends of coffee. Many suppliers provide the beans required by these firms. Moreover, there is not a significant difference in the quality of the product from different suppliers. In addition, with many suppliers offering similar commodity-type products, the switching costs for the focal firms would below. Referring to the second part of the above scenario, all of the mentioned factors combined will result in ____________. * high threat of new entrants to the industry high bargaining power of the suppliers low threat of new entrants to the industry low bargaining power of the suppliersWhich one of the following represent FIFO method of inventory evaluation? a. Old merchandise is sold first b. Average number of goods are sold c. Old items remain in inventory d. New merchandise is sold firstYou are in charge of inventory control of a highly successful product retailed by your firm. Weekly demand for this item varies, with an average of 200 units and a standard deviation of 16 units. It is purchased from a wholesaler at a cost of $12.50 per unit. You are using a continuous review system to control this inventory. The supply lead time is 4 weeks. Placingan order costs $50, and the inventory carrying rate per year is 20 percent of the item’s cost. Your firm operates 5 days per week, 50 weeks per year.a. What is the optimal ordering quantity for this item?b. How many units of the item should be maintained as safety stock for 99 percent protection against stockouts during an order cycle?c. If supply lead time can be reduced to 2 weeks, what is the percent reduction in the number of units maintained as safety stock for the same 99 percent stockout protection?d. If through appropriate sales promotions, the demand variability is reduced so that the standard deviation of weekly…