Concept – Systems for Ordering Items
MyOMLab Operations Management
Heizer, Render and Munson
13th Edition
What is the system for ordering items that have low or no value at the end of the period?
What is the system for ordering items that have low or no value at the end of the period?
Asks for two basic questions answered by typical inventory model…
In what scenario is the use of a single-period inventory model most suitable for managing inventory items?
What elements should a company incorporate into an item’s holding cost?
Can you provide an example of a fixed-period inventory system?
What is the rationale behind the inclusion of safety stock in probabilistic inventory models?
What does inventory manager consider for most critical A-items when using ABC?
Given the amount of sub-components produced per day and per year, working days, holding cost, and ordering cost…. figure out the economic production quantity, production runs per year, max inventory level, and the holding inventory.
Your numbers will vary.
Given the bath towels used per day, the standard deviation, and the days of lead time necessary… find the reorder point and safety stock necessary.
Your numbers will vary.
Problems 12.01 – 12.03 gives the initial price, dividend paid, and ending share price.
Your numbers will vary.