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Q. What are the various managing inventory tools?
Raw material
Materials and elements used to assemble or manufacture finished goods.
Work-in-progress
Incomplete finished goods as like finished goods that require more work before that they can be sold to customers.
Finished goods
Completely or wholly manufactured goods ready for sale.
Consumables
Disposable elements or materials used for the production as like lubricants or cleaning material for disposable, machines equipment or tools.
If annual demand is 24,000 units, orders are placed every 0.5 months, and the cost to place an order is $50, what is the annual ordering cost?
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What are the advantages and disadvantages for a U.S.-based company entering a mature market economy?
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