Tell Me How To Determine The Frequency For Ordering And Inventory Production If It's Not Set Solely By Factories Or The Supply Organization?

Tell Me How To Determine The Frequency For Ordering And Inventory Production If It's Not Set Solely By Factories Or The Supply Organization?
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1 Answer

Answer :

Ideally, there are two factors: companies should consider calculations that minimize the overall cost such as inventory and changeover costs. They also should base frequency on negotiations between the different parties involved and factor in upcoming events such as promotions and uncertainties like bad weather.
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Description : Tell Me Can Forecasting Help In Controlling Inventory?

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Last Answer : If you are involved with inventory, then you need the GR/IR account (Inventory Account) when the IR is posted. If you are not involved about inventory, then the system does not need the GR/IR account when the IR is posted, the system needs a G/L instead of the GR/IR account.

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Description : Do You Know As An Inventory Specialist, What Are Your Specific Duties?

Last Answer : Working as an inventory specialist, I am required to develop and implement an overall inventory management plan which includes materials procurement, inventory stock levels, and facility needs and ... control and make sure any overstocking or shortages are handled in a time efficient manner.

Do You Know When Should A Physical Inventory Be Taken?

Description : Do You Know When Should A Physical Inventory Be Taken?

Last Answer : A inventory should be taken at least once a year. If items are perishable, seasonal or highly demanded a inventory should be taken more often.

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Description : How To Determine The Numbers To Use In The Eoq Formula?

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Description : Tell Me What Is Cycle Count?

Last Answer : A cycle count is an inventory auditing procedure, which falls under inventory management, where a small subset of inventory, in a specific location, is counted on a specified day. Cycle counts ... difference between Actual stock and Book Stock. Book Stock is the stock available in the system.

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Description : Tell Me What Types Of Forecasting Can I Do?

Last Answer : There are two types of forecasting qualitative and quantitative. Qualitative uses personal opinions to determine forecasts. Quantitative uses numerical data and statistical modeling to determine forecasts.

Tell Me What Is An Order Quantity?

Description : Tell Me What Is An Order Quantity?

Last Answer : An order quantity is the amount of goods that an order requests be shipped to the store.

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Description : Tell Me What Is Forecasting?

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Description : Explain Me What Is Total Stocking Cost?

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Description : Explain Me Do I Need To Recompute Stocking Costs For The Eoq Level?

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Description : Explain Me When Should Reorders Be Placed?

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Description : Explain Me What Is Opening Stock And Closing Stock?

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Description : What Are Important Steps In Procurement Life Cycle?

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Do You Know What Is The Importance Of Eoq?

Description : Do You Know What Is The Importance Of Eoq?

Last Answer : The EOQ level is the point at which stocking costs are at their lowest point for a given item.

What Is Work-in-process?

Description : What Is Work-in-process?

Last Answer : Inventories are semi-manufactured products. They represent products that need more work before they become finished product for sale.

Do You Know What Is Cogs (cost Of Goods Sold) Formula?

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Description : What Are Finished Goods?

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Explain What Is Weighted Average Cost?

Description : Explain What Is Weighted Average Cost?

Last Answer : A weighted inventory average determines the average cost of all inventory items based on the inventory items' individual cost basis and the quantity of each item held in inventory. When a business purchases items for inventory, ... cost of the 17 items which are to be sold = 150 AED/17 = 8.82 AED.

Do You Know What Is Interference?

Description : Do You Know What Is Interference?

Last Answer : Interference is a factor in forecasting demand. Interference is made up of all the factors that a forecaster has no control over. Factors that may be considered interference include natural disasters, unusual customer demands, or rare events in the business period.

Do You Know What Is The Eoq Formula?

Description : Do You Know What Is The Eoq Formula?

Last Answer : The EOQ formula is the square root of 2 times demand times order completion cost divided by carrying cost. The mathematical formula is square root of 2DS/C.

Suppose I Get A Discount Will It Effect The Eoq Model?

Description : Suppose I Get A Discount Will It Effect The Eoq Model?

Last Answer : Yes, a discount will cause the basic EOQ model to fail. To use a discount in determine a EOQ you must use the EOQ model with quantity discounts.

Explain What Is Lead Time?

Description : Explain What Is Lead Time?

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Do You Know What Is Demand?

Description : Do You Know What Is Demand?

Last Answer : Demand is the quantity that customers are willing to buy. Demand can be found through forecasting and is needed to find the EOQ level.

Do You Know What Is A Order Point?

Description : Do You Know What Is A Order Point?

Last Answer : A order point is a point in time at which a order is placed to replenish goods in inventory.

What Is Raw Material?

Description : What Is Raw Material?

Last Answer : Are those basic inputs that are converted into finished product through the manufacturing process. Raw materials inventories are those units which have been purchased and stored for future productions.

Do You Know What Does Eoq Stand For?

Description : Do You Know What Does Eoq Stand For?

Last Answer : EOQ stands for Economic Order Quantity.

Explain Can A Computer Help In Forecasting Future Demand?

Description : Explain Can A Computer Help In Forecasting Future Demand?

Last Answer : Yes, In the market today there are many computer software packages that can compute forecasted demand for goods held in inventory.

Where do MNCs set up offices and factories for production? -SST 10th

Description : Where do MNCs set up offices and factories for production? -SST 10th

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Last Answer : (D) Both S1 and S2 are correct.

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Even before factories began to dot the landscape in England and Europe, there was large-scale industrial production for an international market in the country side.' Elucidate. -SST 10th

Description : Even before factories began to dot the landscape in England and Europe, there was large-scale industrial production for an international market in the country side.' Elucidate. -SST 10th

Last Answer : 1. Expansion of world trade and acquisition of colonies in the eventeenth and eighteenth centuries created difficulties for the merchants in towns because the urban crafts and trade guild here was ... was the producer' and London became the finishing center after the cloth underwent various stages.

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Description : Name any four entrepreneurs of India who set factories during colonial period. -SST 10th

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Why do MNCs set up their offices and factories in those regions where they get cheap labour and other resources ? -SST 10th

Description : Why do MNCs set up their offices and factories in those regions where they get cheap labour and other resources ? -SST 10th

Last Answer : MNCs set up offices and factories in regions where they get cheap labour and other resources in order reduce the cost of production and in turn earn maximum profit