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CHOOSING ORDER QUANTITY (SIZE—PROBLEM)
The objective of inventory decisions is usually to minimize total inventory costs to the company. Costs are ascribed to all elements which are of interest in reaching its inventory decisions (e.g. purchasing costs, stock out costs etc.), and solutions, are derived based on these costs.
Several inventory planning models exist. These models can be classified into two basic classified into two basic classifications:
(1) Deterministic Models:—whereby all parameters are known with certainty, e.g. lead-time, annual demand, and so on.(2) Stochastic Models:—in which parameters (particularly demand and lead time) are not known with certainty, but follow known probability distributions (i.e. risks).
Elimination of non-value added activity JIT manufacturing can be described as a philosophy of management, dedicate to the elimination of waste. Waste is stated as anything whic
solutions for (POS) slow printing of sales tickets and unpredictable action of cash drawers. when credit approvals delayed the checkout process or when the computer was down, thus
Discuss the different roles played by the qualitative and quantitative approaches to managerial decision making
It is a commitment by a bank to lend a specific amount of funds on demand identifies the maximum amount of unsecured credit the bank will allow the customer to borrow at any time.
C-V-P ANALYSIS – MULTIPLE PRODUCTS The simple product CVP analysis can be extended to handle the more realistic situations where the firm produces more than one product. The o
Choose the relationship which best predicts the dependent variable After exploring a diversity of relationships, you should select the one that can best be employed in predicti
what are characteristics of relevant cost?
The board of a company decides that the strategic objectives of the company should be: * to become established as the best in its field * to be the largest in its market Comment on
I need help making sure I did my accounting assignment correctly
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