Demand forecasting can enhance inventory management

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Reference no: EM133742633

Question

How would you advise this company to manage its supply chain to prevent stock shortages? Accurate demand forecasting can enhance inventory management. Given the sales data from the past three years (2021-2023), please precisely project their demand for the upcoming year (2024). What types of risks does Chinese Pharmaceuticals (HK) Limited face in their supply chain? Given the provided information, in which the setup cost per production run is $50, the holding cost per unit per year is $2, and the production rate is 30,000 units per year, what is the optimal production lot size for Noto37 to minimize Chinese Pharmaceuticals (HK) Limited's total inventory costs?

Reference no: EM133742633

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