Large number of relatively low-value components

Assignment Help Operation Management

Reference no: EM132215298

The Nuts’n’Bolts hardware store stocks some high-value items and a large number of relatively low-value components. Inventory is reviewed weekly, and orders are placed with suppliers when inventory levels indicate that current levels are “too low.” Most suppliers deliver the low-value items within two weeks; some of the high-value items may take four weeks for delivery.

How would you develop a forecasting system to predict the sales of such items at the individual (SKU stock-keeping unit) level? How would you use such forecasts to plan future purchases?

Use PHIVE to go through the necessary steps. For purposes of the discussion, assume that that any historical data you might need can be made available.

Reference no: EM132215298

Questions Cloud

Expanding the business internationally : Expanding the business internationally so that the company could survive in the fast-changing market economy and find new markets and customers.

Position ensure they have solid foundation for negotiations : How can an individual in a management position ensure they have a solid foundation for negotiations?

Explain why you think the company would benefit : Assess an organizations business strategy, leadership system, global prospects, code of conduct, and profitable growth opportunities with an ethical emphasis

Analysis on macroenvironmental factors : Help with a strong ANALYSIS on macroenvironmental factors for the company Google in the industry Artificial Intelligence?

Large number of relatively low-value components : The Nuts’n’Bolts hardware store stocks some high-value items and a large number of relatively low-value components.

Prepare journal entries : Prepare journal entries for the following: On October 25, 2018, the firm sold Sales Building 2 for $260,000. The firm received payment in cash

Who are the key individuals involved in the process : Who are the key individuals involved in the process? Describe how decision making and resource allocation are important to managing your strategic planning.

Explain advantages of utilizing these research firms : Using your favorite search engine, locate the websites for two research firms. Explain the advantages of utilizing these research firms.

Determine the commissions paid to specific employees : Design a query that will allow the finance department to determine the commissions paid to specific employees of the sale department for the month of December.

User Account

All Pages