The management at Barks-a-Million is considering a new inventory control system. The current system is inadequate...
The management at Barks-a-Million is considering a new inventory control system. The current system is inadequate because it frequently causes stockouts that interrupt production and lead to excess stock of other materials — resulting in markdowns and high carrying costs. The new system will focus on reducing or completely eliminating carrying costs, most likely employing
| A |
materials requirements planning. |
|
| B |
a reorder point. |
|
| C |
a just-in-time inventory system. |
|
| D |
the economic order quantity. |
Homework Answers
|
Option D is the answer Economic order Quantity |
|
| Economic order quantity is a quantity of the materials the purchasing department should order so that all three costs (ordering costs, carrying costs and shortage costs) are minimized. |
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