Question

lakt time measure which b. I Discussion Questions ( Why Is It portant to look a formance, as measured by average Inventory avera e gate flow pe flow time, and average throughput? 3.2 Discuss why it is often easier to measure average inventory and average throughput rather than aver- age flow time How can a manager determine the minimal set of operational measures that should be tracked on a daily basis to predict the financial performances of a process? The Internal Revenue's Department of Tax Regulations writes regulations in accordance with laws passed by Congress. On average, the department completes 300 projects per year. The Wall Street Journal reports that, as of October 11, 2011, the number of projects.currently "on the department's plate" is 588. Nevertheless, the department head claims that average time to complete a project is less than six months. Do you have any rea- son to disagree? Why or why not? The Wall Street Journal reported that although GM and Toyota are operating with the same number of inventory turns, Toyota's throughput is twice that of GM." The discrepancy, concluded the writer, could be due to much faster flow times and lower invento- Exercises C3.1 A bank finds that the average number of people wait- ing in line during lunch hour is 10. On average, dur- ing this period, 2 people per minute leave the bank after receiving service. On average, how long do bank customers wait in line? 3.2 At the drive-through counter of a fast-food outlet, an average of 10 cars waits in line. The manager wants to determine if the length of the line is having any impact on potential sales. A study reveals that, on average, 2 cars per minute try to enter the drive- through area, but 25 percent of the drivers of these cars are dismayed by the long line and simply move on without placing orders. Assume that no car that

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Answer 1

Q.3.6 Is their any Difference between low Inventory Turnover and High Inventory Turnover?

Ans 3.6 Inventory Turnover means how fast a company sell its Current batch of Products.it dictates how efficiently  a company replaces a current batch of Inventories and transform them in to Sales. now the inventory turnover is bifurcated into two parts one is low inventory turnover and the other is high inventory turnover.

Difference

Point of Difference	High Inventory Turnover	Low Inventory Turnover
Meaning	High Inventory Turnover means Company is really good in replacing the current batch of stock and is efficiently working to Increase the sales.	Low inventory turnover means that company is not able to make good amount of sales and it has an excess amount of Stock.it show that company is overstocking or their is a deficiency in the strategies  to make sales.it indicates company need to Work on the company outlook to increase sales.
Demand of the product	Demand of the Product is really high That is why stock is transformed into sales	Demand of the product is low that is the Reason overstocking done
Sales	As the Demand is high products are being Sod very Quickly	As the Demand is low so the Sales is also low
Indicator	Positive Indicator of effective Inventory Management	Negative Indicator of Effective Management

Q.3.7 Is their any difference Between Flow time and take time

Difference

Point of Difference	Flow Time	Takt time
Meaning	The amount of time a flow unit spends in a business process from beginning to end, also known as the total processing time. If there is more than one path through the process, the flow time is equivalent to the length of the longest path.	Takt Time is a customer demand calculation that tells you how often a part should be completed by a particular process in order to meet demand.
Total time	It is actually the time taken by the unit to get produced.it is also called the total process time.	Takt time is the maximum amount of time in which a product needs to be produced in order to satisfy customer demand.