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An artist's supply shop stocks a variety of different items to satisfy the needs of both amateur and professional artists. In each case described below, what is the appropraite inventory control model that the store should use to manage the replenishment of the item described below? Explain your choice and determine the data needed to solve the model selected.
a) A highly volatile paint thinner is ordered once every three months from the supplier. Cans not sold during the three month period are discarded. The demand for the paint thinner exhibits considerable variation from one three month period to the next.
b) A white oil base paint sells at a fairly regular rate of 600 tubes per month and required a six week order lead time. The paint store buys the paint for $1.20 per tube.
c) Burnt sienna oil paint does not sell as regularly or as heavily as white. Sales of the burnt sienna vary considerably (and randomly) from one month to the next. The useful lifetime of the paint is about two years, but the store sells almost all of the paint prior to the two year limit. Fixed order placement costs for low volume items such as burnt sienna oil paint are significant.
Rate the three (3) most important concepts that you learned in this course in order of importance (one [1] being the most important). Provide a rationale for your response. Determine ways you plan to apply what you learned in this course to your curr..
Mid-West Publishing Company publishes college textbooks. The company operates an 800 telephone number whereby potential adopters can ask questions about forthcoming texts, request examination copies of texts, and place orders. How many extension line..
List and explain the differences between discretionary and legally required (mandated) benefits. Why do companies need to provide both to employees.
Garcia’s Garage desires to create some colorful charts and graphs to illustrate how reliably its mechanics “get under the hood and fix the problem”. Determine the control limits for this chart. In March, 8 of the 100 customers in the sample group ret..
Go to Tim's Coffee Shoppe and look in the back office. Inside the file drawer labeled "Business" is Tim's Coffee Shoppe Income Statement for the year for 2011.
For this project you may select any company- profit or non-profit, one that offers products or services. The only requirement is that it be a publicly held corporation easily found in business databases.
Compute the annual total cost (i.e. the Purchase cost + Ordering cost + Holding cost). (Please read the question more than once)
The final stage in a bicultural audit usually involves: identifying cultural differences between merging companies. surveying both internal and external employees of a firm. Meetings of executives to think about important decisions. Identifying strat..
Identify the four general decision making styles. Explain the two primary characteristics, which define each. Describe participative management, and give at least four factors that help make participative management work. Explain what centralization ..
Dr. Karl Ware is a Professor of Business Law at DeVry/ Keller University and has recruited "30" Florida Residents and Prelaw Students from "3" Florida Historically Black Colleges and Universities (HBCUs) to get GPA, Veteran Status, Major, Demographic..
Nike's mission statement is " To bring inspiration and innovation to every athlete in the world."How completely does this address the expectations of a mission statement?
Briefly identify the company and provide a short explanation of why the company is seeking to restructure. Evaluate three types of business strategies (low-cost, differentiation, and speed-based) and determine which is most appropriate for the busine..
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