What is the appropriate role of inventory turnover as a measure for evaluating the management of inventory? Under what circumstances is high turnover detrimental to a firm?
Answer to relevant QuestionsSuppose you are managing a chain of retail department stores. As a top manager, how would you measure the overall inventory management performance of each store? How would you use this information in your relationship with ...Compare and contrast the management of finished goods inventory in a manufacturing firm with that in a retail or wholesale firm. For the data in problem 11: In problem 11 Average annual sales = 600 tires Ordering cost = $40 per order Carrying cost = 25 percent per year Item cost = $50 per tire Lead time = 4 days Standard deviation of daily demand ...The Co-op in problem 6 has discovered that it should establish a safety stock for its sweatshirts. It wants to use a reorder point system with a two week lead time. The demand over a two-week interval has an average of 450 ...A company president said his firm was too small to afford an MRP system. Discuss.
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