Affects the optimum order quantity of inventory

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Reference no: EM132234060

1. In making any decision that affects the optimum order quantity of inventory, what are the four categories of cost that must be considered?

2. Describe 5 purposes of inventory?

3. Describe the following concepts used in inventory management.

a. ABC classification method

b. Two bin system

c. One bin system

d. Cycle counting

4. If it takes a supplier 10 days to deliver an order once it has been placed and the standard deviation of daily demand is 14, what is the standard deviation of usage during lead time?

5. Assume that Product Z is made of two units of A and four units of B. A is made of three units of C and four of D. D is made of two units of E. Lead times for purchase or fabrication of each unit to final assembly are: Z takes two weeks; A, B, C, and D take one week each; and E takes three weeks. Fifty units are required in Period 10. (Assume that there is currently no inventory on hand of any of these items.)

a. Show the bill-of-materials (product structure tree) and the low-level-coded BOM

b. Indented and the single level (summarized?) parts lists.

c. Develop an MRP planning schedule showing gross and net requirements and order release and order receipt dates.

Reference no: EM132234060

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