As a supermarket manager, how would you go about evaluating the criticalness of an inventory shortage?
Answer to relevant QuestionsGive two examples of unethical conduct involving inventory management and the ethical principle each one violates.Garden Variety Flower Shop uses 750 clay pots a month. The pots are purchased at $ 2 each. Annual carrying costs per pot are estimated to be 30 percent of cost, and ordering costs are $ 20 per order. The manager has been ...A company manufactures hair dryers. It buys some of the components, but it makes the heating element, which it can produce at the rate of 800 per day. Hair dryers are assembled daily, 250 days a year, at a rate of 300 per ...Given this information: Lead- time demand 600 pounds Standard deviation of lead time demand 52 pounds (Assume normality.) Acceptable stockout risk during lead time 4 percent a. What amount of safety stock is appropriate? b. ...A service station uses 1,200 cases of oil a year. Ordering cost is $ 40, and annual carrying cost is $ 3 per case. The station owner has specified a service level of 99 percent. a. What is the optimal order quantity? b. What ...
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