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Inventory and Inventory Management.
Create an inventory of 10 office supplies including how much of the item should be available in the office (the maximum amount on the shelf) and the reorder point (the least amount that can be available). Then, add a current amount and show how many need to be ordered. Remember that office supplies are consumables which means that they get "used up" as compared to capital equipment that is durable and used over a long period of time. Only include supplies on this list. Take for example an ink pen, which is categorized as a supply. The pen will be used up in a few weeks as compared to a telephone which is used repeatedly and lasts for years and would be considered durable equipment. Supplies must be kept "in stock" and reordered routinely. See the PowerPoint on Inventory management for this week as a guide to create the table. You may use Excel or Word to complete this assignment. Some examples are shown for you.
The first example shows black pens with a maximum level of 5 boxes. The current level is 3 boxes and the reorder point is 2 boxes, so pens do not need to be ordered at this time.
In the second example because only 5 boxes of folders remain and the order point is 5, then 10 boxes will need to be ordered to bring the inventory back to the maximum level.
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