Holding inventory - Study guides, Class notes & Summaries

OMIS 338- EXAM 2 Latest Update Graded A+ Inventory Management Objective of inventory management is to strike a balance between inventory investment and customer service Importance of inventory most expensive assets less inventory= lower costs but greater chance of running out more inventory raises costs but always keeps customers happy Functions of inventory Provide a selection of goods for anticipated demands separate various parts of the production process advantage of quant...

Cost - Materials, Energy, Wages, Transportation, Rent Quality - Design, Reliability, Consistency, Materials, Fabrics Speed - Delivery, On-Time, Innovation Time Flexibility - Customization, Size of Order, Design Competitive Priorities - Cost, Quality, Speed, Flexibility Productivity: - The ratio of outputs [What did I make?] to inputs [What was the cost?]. (Organizational Perspective) Value: - The ratio of "output purchased" divided by "inputs used to purchased" the product ...

IDIS 343 Exam 2 Latest Update Graded A+ 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 imm...

Inventory carried for the purpose of satisfying demand that exceeds the amount forecasted for a given period is A) cycle inventory. B) demand inventory. C) safety inventory. D) security inventory. - C) safety inventory. Safety inventory is carried because A) demand forecasts are accurate. B) demand forecasts are uncertain. C) adequate supplies are available. D) excess product was manufactured. - B) demand forecasts are uncertain The trade-off that a supply chain manager must consider ...

ACRP CCRC Exam Prep Questions and answers 100% correctWhat are expected or possible consequences of over-estimation of recruitment potential? - The trial will overrun its projected timeline - The recruitment period will be prolonged and more sites may be needed - The study will not have sufficient data within the required timeframe and will be stopped because of lack of budget What should be the first consideration when conducting a clinical trial? Subject welfare When is the i...

ServSafe 7th Edition Diagnostic Test> 80-question diagnostic test and answer key (all correct updated 2022-2023.) The purpose of a food safety management system is to A) keep all areas of the facility clean and pest-free. B) identify, tag, and repair faulty equipment within the facility. C) prevent foodborne illness by controlling risks and hazards. D) use the correct methods for purchasing and receiving food. A manager's responsibility to actively control risk factors for foodb...

WGU C720 Complete OA Prep Guide Graded A+ Inputs People, capital, material, money Outputs Services and goods Sustainability Defined broadly in operations and supply chain management as the ethical issues an organization faces to balance financial performance while maintaining social responsibility standards and a responsible environmental profile. VIRAL Acronym - A framework for competitive advantage. Viral, Inimitable, Rare, Aptitude, Lifespan. The advantage must provide Value to consumers...

OPM EXAM 2 QUESTIONS & ANSWERS 2024/2025 A delivery truck from a food wholesaler has just delivered fresh meat and produce to a local restaurant. This meat and produce would be categorized as which type of inventory by the restaurant? Raw materials inventory Work-in-process inventory Finished goods inventory Seasonal inventory - ANSWERSRaw materials inventory Tablets and laptops would be categorized as which type of inventory by an electronics retailer? Raw materials inventory ...

Jurisprudence Exam Questions and Answers with Certified Solutions 2. What is the composition of the SBDE? What are the qualifications and length of term for appointees to the Boards? Who appoints or elects Board members? Do members need to be confirmed by the Senate? Who can be President of the Board? R&R Page 1 and Page 2 • The SBDE is composed of 15 members appointed by the governor with the advice and consent of the senate; 8 reputable dentists and 2 reputable dental hygienist who reside i...

Supply-chain debrief: What caused people to act the way they did? and what did this lead to? (2) - correct answer Lack of communication / cooperation , leading to the guessing of customer demand which led to arbitrary ordering decisions and the result is the bullwhip effect long lead time, could've been even longer if the supplier had no inventory what is the "bullwhip" effect? - correct answer information (orders) going back through the supply chain is distorted and then amplified...