explain how does inventory impact the financial health of a business?
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explain how does inventory impact the financial health of a business?
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- Compare and contrast the four primary functions of a DC: accumulation, sortation, allocation, and assortment?What strategies and techniques can be employed to optimize inventory management in a manufacturing or retail organization, ensuring efficient operations and minimizing costs?As an operations management consultant, you have been asked to evaluate a furniture manufacturer’s cash to cash conversion cycle under the following assumptions: sales of $23.5 million, cost of goods sold of $20.8 million, 50 operating weeks a year, total average on hand inventory of $2,150,000, accounts receivable equal to $2,455,000, and accounts payable of $3,695,000. What do you conclude? What recommendations can you make to improve performance? What would be the impact of reducing the accounts payable from $3,695,000to $2,000,000 and all other data remained the same? Please show in detail these impacts quantitatively in your answers.
- A restaurant has annual sales of $420,000, an average inventory of $6000, and an annualcost of goods sold of $264,000. What is the restaurant’s monthly inventory turns?What role does inventory management play in an overall business plan and describe the benefits of just in time inventory management.Describe one of the methods for managing cash disbursements or cash receipts and how it impacts profitability.The task I am struggling with: A manufacturing company producing medical devices reported $60 000 000 in sales over the last year. At the end of the same year the company had $ 20 000 000 worth of inventory of ready-to-ship devices.a) Assuming that units in inventory are valued (based on COGS) at $1000 per unit and are sold for $2000 per unit, how fast does the company turn its inventory? The company uses a 25% per year cost of inventory. That is for the hypothetical case that one unit of $1000 would sit exactly one year in inventory, the company charges its operations division a $250 inventory cost.b) What in absolute terms is the per unit inventory cost for a product that costs $1000? Thank you very much for your help.