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

What are the duties of a confidential secretary, QUESTION 1 "Values dri...

QUESTION 1 "Values drive behaviour". Discuss with reference to- (1) virtuous values and behaviour (2) how an ethical culture can be developed at the workplace? QUESTI

Describe performance appraisal, Question 1: Managing expectations is ba...

Question 1: Managing expectations is based upon an agreement between the employee and the manager on the objectives of the job under discussion and how its achievement would be

Hpothesis, consider the use of metal detector in air port to test people fo...

consider the use of metal detector in air port to test people for concealed weapon .in essence his is a form of hpothesis testing

Important part of conference and event management, Question 1: What do ...

Question 1: What do you understand by the term logistics? What are the five elements of logistics and why are they crucial to conference and events management? Question 2:

Factors determining arrangement of documents, Factors Determining Arrangeme...

Factors Determining Arrangement of Documents: Documents can be arranged in various ways in a library, e.g., by author, or by title, or by, subject or by basis such as size, la

Direct ordering with publishers and standing vendor method, Direct Ordering...

Direct Ordering with Publishers: Due to the inefficiency of local booksellers,  many a library has resorted to the practice of directly ordering with publishers or their local

Relation to facilities planning and design, Question 1: (i) What are t...

Question 1: (i) What are the determinant scarce resources a facilities planner and designer needs to consider before starting a proper feasibility study for the initial se

Types of internet e-banking websites, Problem a) (i) Name the two prim...

Problem a) (i) Name the two primary types of Internet e-banking websites. (ii) Clearly differentiate between these two types of e-banking websites. (iii) Outline the ris

Please value the company with a dcf analysis, LogicSoft Inc., a start-up th...

LogicSoft Inc., a start-up that provides enterprise logistic software to transportation companies, is in negotiations with a new customer for a sales contract.  The software is hig

Legal aspects of health care management, 1. What is meant by the term "stan...

1. What is meant by the term "standard of care" in the context of medical liability? Provider examples as to the application of this legal term. How is this standard determined and

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