Idis 343 Study guides, Class notes & Summaries

IDIS 343 Exam 2 TAMU Latest Update Already Passed Annual holding cost is calculated based on Average inventory If EOQ is ordered which of the following is true? Annual order cost is equal to the annual holding cost The Setup cost (in a production scenario) are analogous _________ costs. ordering The slope of the total cost curve at EOQ is zero The three general classes of costs that are important in identifying the EOQ Purchase cost, ordering cost, holding cost Which of th...

Carrying Cost : cost for carrying inventory over time the primary cost is the cost of money tied up in inventory, but also includes obsolescence, insurance, personal property taxes, and storage costs Procurement Costs : cost of preparing the order, order transmission, production setup, materials handling/ processing at the receiving dock price of goods Out-of-stock Costs include : lost sales cost & backorder cost Lost Sales Cost : profit immediately foregone, future profits foregone...

Carrying Cost : cost for carrying inventory over time the primary cost is the cost of money tied up in inventory, but also includes obsolescence, insurance, personal property taxes, and storage costs Procurement Costs : cost of preparing the order, order transmission, production setup, materials handling/ processing at the receiving dock price of goods Out-of-stock Costs include : lost sales cost & backorder cost Lost Sales Cost : profit immediately foregone, future profits foregone...

IDIS 343 Exam 2- Solved

Carrying Costs: : -Cost for holding the inventory over time -Typically costs range from short term capital to about 40% per year. The average is about 25%/year of the item value in inventory. Primary cost of carrying costs : Money tied up in inventory What are the different costs for carrying costs? : -Money tied up in inventory -Obsolescence -Insurance -Personal Property Taxes -Storages costs Procurement costs: : -Cost of preparing the order -Cost of order transmission -Cost of ...

IDIS 343 Final Review Exam Graded A+

Carrying Costs: - Answer--Cost for holding the inventory over time -Typically costs range from short term capital to about 40% per year. The average is about 25%/year of the item value in inventory. Primary cost of carrying costs - Answer-Money tied up in inventory What are the different costs for carrying costs? - Answer--Money tied up in inventory -Obsolescence -Insurance -Personal Property Taxes -Storages costs Procurement costs: - Answer--Cost of preparing the order -Cost of order ...

Primary Key Act/Processes : setting customer service goals, transportation, inventory management, location Secondary Key Act/Processes : warehousing, materials handling, acquisition, protective packaging, product scheduling, order processing Customer Service Triangle : inventory, transportation, and location strategy customer desires in the supply chain : quick response & mass customization an integral part of company strategy : generate revenue & improve profit logistics is a key to...

Supply Chain Management : Getting the *right goods* or services to the *right place*, at the *right time*, and in the desired condition at the *lowest cost* and *highest return on investment*. Supply Chain Structure : raw material --> manufacturer --> distributor --> end user Business Logistics is made up of? : Physical Supply and Physical Distribution Physical Supply : (materials management) Transportation Inventory Maintenance Order Processing *Acquisition* Protective...