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(a) Supply chain management is the integration of the activities that procure materials and services, transform them into intermediate goods and the final product, and deliver them to customers. The key to a successful supply chain structure and operation depends upon a customer/supplier relationship based on partnership principles. Critically discuss the importance for companies to develop a supply chain strategy.
(b) Leal Communication Ltd stocks and sells Toshiba note-book. It costs the store $400 each time it places an order with the manufacturer. The annual cost of carrying the note-book in inventory is $150. The store manager estimates that the annual demand for such note-book will be 1200 units.
(i) Explain why organisations hold inventory.
(ii) Evaluate optimal order quantity and total annual inventory costs.
Why is forecasting important in organizations, especially as related to understanding the relevant time horizon to develop a forecast against? What are some examples from industry?
George Johnson recently inherited a large sum of money; he wants to use a portion of this money to set up a trust fund for his two children. The trust fund has two investment optio
Use your critical thinking skills and discuss what you can deduce from this data. Please think about both behaviours and processes and linkage to the quality management program.
The service facility is a combination of
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