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The Bawl Corporation supplies alloy ball bearings to auto manufacturers in Detroit. Because of its specialized manufacturing process, considerable work-in-process and raw materials are needed. The current inventory levels are $2,470,000 and $1,566,000, respectively. In addition, finished goods inventory is $1,200,000 and sales (at cost) for the current year are expected to be about 48 million.
Express total inventory as-
a) Weeks of supply
b) Inventory turns
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Given the following data for a particular inventory item: Usage 500 units/week Ordering $40 per order Carrying Cost $.01 per unit per week Lead Time 3 weeks Price $.50 per unit a.
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You are currently an intern working for the largest law firm in Alabama. Your mentor and senior attorney introduces you to a new client, Dick Jefferson, the owner of House Doctor,
Explain how probability is used in that situation.
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