In terms of K, D, and h, what is the average length of time that an item

Question:

In terms of K, D, and h, what is the average length of time that an item spends in inventory before being used to meet demand? Explain how this result can be used to characterize a fast-moving or slow-moving item.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Practical Management Science

ISBN: 978-1305250901

5th edition

Authors: Wayne L. Winston, Christian Albright

See More Books

Question Posted: Nov 03, 2018 11:01 AM

See More Questions

The efficiency of an inventory system is often measured by the turnover ratio.(TR), defined by TR = Cost of goods sold per year / Average value of on hand inventory a. Does a high turnover ratio...
The following financial information is for Ambroise Industries Inc.: Ambroise is a distributor of auto parts operating in eastern Ontario that offers 30-day terms and has all sales on credit. The...
The following financial information is for Ambroise Industries Inc.: Ambroise is a distributor of auto parts operating in eastern Ontario that offers 30-day terms and has all sales on credit. The...
Consider the following actual FY2019 data and a forecast of FY2020 selected balance sheet and income statement numbers. $ millions FY2019 Actual FY2020 Est. $29,009 $32,102 14,592 16,051 8,755 9,923...
What are some of the major challenges companies face when confronted with a merger and acquisition?
Discuss the purpose of a double-entry bookkeeping system.
Explain the purpose of corporate reorganization and the process of restructuring.
You have been requested by a friend named Dean McChesney to advise him on the effects that certain transactions will have on his business. Time is short, so you cannot journalize the transactions....
1.Given MPC (marginal propensity to consume) = 0.75, if the government implements an expansionary fiscal policy as (a) cutting taxes by $10 billion, then by how much would total spending increase...
One of the tasks for an operating system is the job of scheduling computations to be performed by the processor(s) that are part of that system. A subtask that comes up in some processor scheduling...
Let and Use the matrix-column representation of the product to write each column of AB as a linear combination of the columns of A. -2 A = -3 2 0 -1 3 0 B = -1 6. 4.
A drugstore sells 30 bottles of antibiotics per week. Each time it orders antibiotics, there is a fixed ordering cost of $10 and a cost of $10 per bottle. Assume that the stores cost of capital is...
You are discussing real options with a colleague. During the discussion, the colleague states, Real option analysis makes no sense because it says that a real option on a risky venture is worth more...
During the Covid19 pandemic, some people wondered why biologists seemed unable to answer many questions about the virus, including why children rarely became seriously ill, why men were more likely...
Zapata, a Texas company, entered into a contract for Unterweser, a German company, to tow an oil-drilling rig from Louisiana to Italy. The contract stated, Any dispute arising must be treated before...
Craxton Engineering will either purchase or lease a new $756,000 fabricator. If purchased, the fabricator will be depreciated on a straight-line basis over seven years. Craxton can lease the...
During the period after the inflation rate began to rapidly increase in the spring of 2021, a number of news articles noted cases of hidden inflation. This hidden inflation took two forms: (1) The...
Suppose a company can replace the packing material it currently uses with a biodegradable packing material. The company believes this move to biodegradable packing materials will be well received by...
You are considering two types of electric motors for your paint shop. Financial information and operating characteristics are summarized as follows: If you plan to operate the motor for 2,000 hours...
a) Show that (a, b) := {{a}, {b}} does not satisfy the ordered pair axiom. b) Determine whether each of the following statements is true or false. (Give a reason in each case): (i) {a, b} C (a, b)....
Discuss a few changes in the market environment that you think help to explain why telephone, mail-order, and Internet retailing have been growing so rapidly.
Apply the wheel of retailing theory to your local community. What changes seem likely? Will established retailers see the need for change, or will entirely new firms have to develop?
What advantages does a retail chain have over a retailer who operates with a single store? Does a small retailer have any advantages in competing against a chain? Explain your answer.
Every culture is different. According to Hofstede, much of this variability can be accounted for by six cross-cultural values. Briefly describe them and indicate how each of these values may impact...
In this exercise, identify the types of questions you'll need to be answered in order to help you plan a successful venture. Here's the situation: You have an idea for a new business. It's a high-end...
We are introducing a survey to test a small group in order to see if online expansion would be beneficial for MESA productions (a corrosion control company). Currently it is hard to find their...

In terms of K, D, and h, what is the average length of time that an item

Question:

Step by Step Answer:

Fastmoving vs slowmoving items If EOQ ...View the full answer

Practical Management Science

Students also viewed these Business questions