Which inventory system is the preferred inventory system since orders are not built until the customer places an order? O Bullwhip effect O Push system O Vendor managed inventory Pull system
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- The chapter presented various approaches for the control of inventory investment. Discuss three additional approaches not included that might involve supply chain managers.What would be the relationship (one-to-one, one-to-many, or many-to-many) relationship between: Sales and inventory Inventory and Order form Order and VendorWhat are the Types of Inventory Control Systems ? Perpetual Inventory System When you use a perpetual inventory system, it continually updates inventory records and accounts for additions and subtractions when inventory items are received, sold from stock, moved from one location to another, picked from inventory, and scrapped. • Periodic Inventory System Periodic inventory systems do not track inventory on a daily basis Barcode Inventory Systems Inventory management systems using barcode technology are more accurate and efficient than those using manual processes. Radio Frequency Identification (RFID) Inventory Systems Radio frequency identification (RFID) inventory systems use active and passive technology to manage inventory movements.
- Which type of inventory, exists as material cannot be transported instantaneously between the point of supply and point of demand O a. Cycle Inventory O b. Safety Stock Inventory O c. Anticipation Inventory O d. Pipeline InventoryWhich of the following is NOT one of the major causes of the bullwhip effect? A. demand forecast errors B. price fluctuations C. shared demand information D. order batchingWhat are the primary trade-offs captured in the Economic Order Quantity (EOQ) Model? Inventory Cost Variable Cost of Units Revenue Fixed Cost When Placing Orders
- Inventories are estimated more frequently under what inventory system? perpetual periodic wholesale netXemex has collected the following inventory data for the six items that it stocks: ITEM CODE UNIT COST ($) ANNUAL DEMAND (UNITS) ORDERING COST ($) CARRYING COST AS A PERCENTAGE OF UNIT COST 1 10.60 600 40 20 2 11.00 450 30 25 3 2.25 500 50 15 4 150.00 560 40 15 5 4.00 540 35 16 6 4.10 490 40 17 Lynn Robinson, Xemex’s inventory manager, does not feel that all of the items can be controlled. What ordered quantities do you recommend for which inventory product(s)?Describe the inventory models of stochastics? What is the use of when?
- Which of the following is not a common type of inventory? a) Raw materials b) Work-in-progress c) Finished goods d) Customer complaintsWhich inventory system is less likely to order a fixed order quantity? Select one: O a. Continuous O b. Perpetual O c. Periodic O d. Two binUnder which circumstances would you use single period/newsboy model for inventory management?