Reference no: EM133174931
An importer operates a small warehouse that has the following annual costs. Wages for purchasing are $45,000, purchasing expenses are $30,000, customs and brokerage costs are $30 per order, the cost of financing the inventory is 8%, storage costs are 7%, and the risk costs are 10%. The average inventory is $250,000, and 6000 orders are placed in a year. What are the annual ordering and carrying costs?
2.
If the annual cost of goods sold is $30,000,000 and the average inventory is $5,000,000,
a. What is the inventory turns ratio?
b. What would be the reduction in average inventory if, through better materials management, inventory turns were increased to 10 times per year?
c. If the cost of carrying inventory is 25% of the average inventory, what is the annual savings?
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