What events might occur when an organization is out of stock of a needed product? How might the cost of a stockout be calculated?
Answer to relevant QuestionsAssume an organization’s current service level on order fill is as follows: Current order fill = 70% Number of orders per year = 10,000 Percent of unfilled orders back-ordered = 85% Percent of unfilled orders cancelled = ...Customer service is often viewed as the primary interface between logistics and marketing. Discuss the nature of this interface and how it might be changing. What is the underlying principle of the square-root rule? How do inventories change as the number of warehouses in a logistics network changes? Why has the JIT approach to inventory control become popular in some industries? How does the JIT approach compare to the EOQ approach to inventory management? Should JIT be adopted by all inventory managers? Why or why not? Describe the major challenges faced by distribution managers in the current environment.
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