Integral part of effective management, Other Management

Assignment Help:

Problem:

1 "Inventory control is an integral part of effective management." Discuss.

2 A large firm uses an average of 50 packages of copier paper a day. The firm operates 250 days a year. The cost of each package of copier paper is Rs100 and the inventory carrying cost is estimated to be 2% of the cost of each pack. It costs approximately Rs20 to order and receive a shipment of paper and the deliveries from the supplier generally take 3 working days.

(a) Under the above assumptions, what is the economic order quantity for the packages of copier paper?

(b) How many orders will be placed per year?

(c) What is the total annual cost associated with your recommended EOQ?

(d) Calculate the reorder point.

(e) The office manager is currently using an order size of 480 packages. The partners of the firm expect the office to be managed in a cost-efficient manner. Would you recommend that the office manager use the optimal order size instead of 480 packages? Justify your answer.


Related Discussions:- Integral part of effective management

Rules for assessing the state of control of a process, Question: (a) ...

Question: (a) What are the quality dimensions a consumer looks for in a product? (b) Deming's 14 points plan is a complete philosophy of management. Give an outline of ten

Discuss the major joints of thorax and pelvis, Question 1 Describe the ...

Question 1 Describe the external features of the heart. Add a note on circulation of blood within the heart 2 Discuss the major joints of thorax and pelvis 3 Explain the

Subject classification - library management , Subject classification: ...

Subject classification: A Compound Subject is a basic subject when it has at least one focus, or has at least an aspect, i.e., it has a basic facet and one or more isolate

Discuss the cost effective design, Question 1: "One of the main challen...

Question 1: "One of the main challenges of hotel management today is the rapid changes in customer requirements, trends and tastes, resulting in the necessity for frequent exte

Principles of resort planning, QUESTION 1 Critically discuss the concep...

QUESTION 1 Critically discuss the concept of disasters as applicable to the tourism industry and analyze the pre-requisite and ingredients of an effective tourism disaster mana

Define learning, QUESTION (A) Define learning (B) Playing on a backy...

QUESTION (A) Define learning (B) Playing on a backyard one day, three-year-old Albert is on a swing when a rabbit suddenly appears out of the bushes and startles him. He sli

Quality definition, Q uality definition The  initial  step  of  projec...

Q uality definition The  initial  step  of  project  quality management  is  to  define quality.  The project manager and the team must identify and define the quality standar

Explain the philosophy behind quality management system, Question 1: (a...

Question 1: (a) Explain the basic philosophy behind quality management systems such as those specified in ISO 9000:2000 series. (b) Discuss how an effective quality manageme

Printed book form - library catalogues, Printed Book Form: The printe...

Printed Book Form: The printed book form of library catalogue is one of its typical forms. These types of library catalogues are prepared conforming to all the standard princi

What are the benefits of cured composting, QUESTION 1 (a) In many part...

QUESTION 1 (a) In many parts of the world, health problems and diseases have been caused by discharging untreated or inadequately treated wastewater. Discuss comprehensively p

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd