You are running the supply chain for a grocery store operating across UpstateSouun Carolina. You operate a central warehouse and have multiple stores. For each of thefollowing situations determine if it would be best to operate inventory for the product that ispooled at your central warehouse or determined individually by each retail store. Provide atleast 1 sentence discussing your choice.(a) The demand for boxes of Nutty Bars at each store during a week is i.i.d. with meanu = 1000 and standard deviation o =Nutty Bars are high compared to holding costs for Nutty Bars.10. Transshipment costs between the stores for(b) The demand for Fudge Rounds at each store during a week is i.i.d. with mean u = 20075. Transhipment costs between the stores for Fudgeand standard deviation oRounds are relatively small compared to holding costs.

Inventory management helps in determining the amount of stock that should be ordered and time of…

Answered: You are running the supply chain for a…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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The annual demand for an automobile part is 3200 units. The unit cost is 60 OMR and inventory carrying charge is 25% of unit cost. Ordering cost is 20 OMR per order. (i) Determine the economic order point (ii) If you place an order for 110 units every time, is it profit or loss? How much and Why? (iii) Why demand forecasting is important for an organization? Compare qualitative and quantitative forecasting technique with an example.
Describe the purpose of usinABC analysis in inventory andprovide explanation for eachcategory.
can you please help me answer this question.... Rebar Company prepared the following analysis of its year-end inventory on December 31. First, determine the total lower of cost or market value for each product in Rebar Company's inventory. Second, prepare the journal entry needed at year-end to value the inventory at LCM, if applicable. Historical Cost Replacement Cost Product Quantity per unit per unit A 17 $430 $499 B 140 325 299 C 38 75 69
The following lots of a particular commodity were available for sale during the year Beginning inventory 7 units at $49.00 First purchase 18 units at $54.00 Second purchase 25 units at $59.00 Third purchase 14 units at $59.00 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer. $1,127.00 $1,357.00 $3,616.00 $3,593.00
Knowing how to use the ABC analysis, make up a list of 10 items in a stores inventory, then decide which 10 items sold at the store would constitute 80% of the revenue and create a Word document using the ABC analysis.
21- Which one of the following represent FIFO method of inventory evaluation? a. Old items remain in inventory b. Old merchandise is sold first c. New merchandise is sold first d. Average number of goods are sold
A firm is faced with the attractive situation in which it canobtain immediate delivery of an item it stocks for retailsale. The firm has therefore not bothered to order the item in any systematic way. However, recently profits have beensqueezed due to increasing competitive pressures, and thefirm has retained a management consultant to study itsinventory management. The consultant has determined thatthe various costs associated with making an order for theitem stocked are approximately $70 per order. She has alsodetermined that the costs of carrying the item in inventoryamount to approximately $27 per unit per year (primarilydirect storage costs and forgone profit on investment ininventory). Demand for the item is reasonably constantover time, and the forecast is for 16,500 units per year.When an order is placed for the item, the entire order isimmediately delivered to the firm by the supplier. The firm operates 6 days a week plus a few Sundays, or approxi-mately 320 days per year.…
Sam is at the post office to mail a package. After he pays for mailing the package, the clerk asksif he would like to buy some stamps. Sam pauses to think before he answers. He doesn’t have acredit card with him. After paying for the package, he has about $30 in his pocket. Analyze thisfrom an inventory standpoint. Identify the relevant considerations.
What is Inventory Control and its Objectives?
Define the term Independent Demand and explain how it relates to the salesand marketing activity of firms. Explain the benefits of accurate estimationof future Demand within the context generating a reliable production plan
Revenue management requires management to deal with:a) multiple pricing structures.b) changes in demand.c) fo recasts of use.d) forecasts of duration of use.c) all of the above
Item35 Item35 Staple products Multiple Choice need maximum exposure and widespread distribution at low cost. need adequate representation in major shopping areas. need widespread distribution but with assurance of preferred display. need widespread distribution near probable points of use. can have limited availability as long as display is good.

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