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Problem 1:
Describe the need for safety stock
- Demand fluctuation, delay in receipt of inventory, impact of slow delivery- Advantages of safety stock
Problem 2:
Describe the various methods of disposing the obsolete stock • Review inventory for obsolete items• Create a Materials Review Board (MRB)• Include an obsolescence review in the closing procedure• Use computer tracking for items with a short shelf life• Track the rework status actively
Describe the several financial ratios important in financial statement analysis.
• Liquidity ratio• Profitability ratio• Leverage ratio• Activity ratio
Problem 1: (a) Define the terms ‘ inventory' and ‘inventory control'. (b) State the classification of supplies for inventory purposes in your organisation. (c) List the a
explain how to minimize the cost of production through scope of material management
limitations of center of gravity
explain the major inputs into the Material Requirement Planning system
The 3C model by Kenichi Ohmae The 3C model has been given by well known business strategist of Japanese origin, Kenichi Ohmae. The 3 C's of the model stands for: The
mrp
what are the essential seps in competitive bidding
LEAN THINKING Read the journal article Spear, S., & Bowen, H. K. (1999) ‘Decoding the DNA of the Toyota Production System’, Harvard Business Review, 77 (5), pp. 96–106 QUESTI
Suppose you are a corporate buyer. One of your suppliers delivers a particular part in 12 days on average; with a standard deviation of 3/ The daily usage averages 20 units per day
questionHow will you influence people to strive willingly for group objectives in your organization (target based industry)? Apply your interpersonal influence through communicatio
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