A difference between periodic review and continuous review inventory systems is:
In one system, time triggers orders, in the other, quantity triggers orders
Periodic review requires real-time monitoring systems
Continuous review usually required more safety stock than periodic review
Periodic review is more expensive than continuous review
Ans:
In one system, time triggers orders, in the other, quantity triggers orders
A difference between periodic review and continuous review inventory systems is: In one system, time triggers...
The main difference between the perpetual and periodic inventory systems is: Select one: o a. Organisations with high value inventory items tend to use the periodic system because it is more precise than the perpetual system b. Stock losses are identifiable under the periodic system but not the perpetual system c. Continuous records on the flow of inventory units are maintained under the perpetual system but not the periodic system O d. The perpetual system is generally cheaper to use...
. Which statement about inventory review systems IS FA! In Q system, safety stock is needed only for the lead-time period. 1 P system, inventory levels are reviewed periodically at fixed time interval Ve. P system requires a lower safety stock than system. D. In a system a higher than system, a higher than normal demand causes a shorter time between whereas in P system, the result would be a larger order size.
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Discuss briefly the difference between the perpetual inventory system and the periodic inventory system and how is the amount of inventory determined when the periodic system is used?
HELP! PLEASE Petromax Enterprises uses a continuous review inventory control system for one of its SKUs. The following information is available on the item. The firm operates 52 weeks in a year. Demand = 91,000units/year Ordering cost = $32.50 Holding cost = $3.50/unit/year Average lead time = 4 Weeks Standard deviation of weekly demand = 250 units a. The economic order quantity for this item is ____units. (Enter your response rounded to the nearest whole number.) b. If Petromax wants...
A manufacturer keeps a continuous inventory review system on the key component, part X. The annual demand on part X is 12,000 units and the demand rate is constant. The supplier charges $50 for each unit of part X. Each order costs $150 to process and annual holding cost per unit is 20% of the purchase price. (a) What is the economic order quantity? How many orders will be placed each year (365 days)? If the lead time is 3...
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Explain in your own words the difference between periodic and perpetual inventory system.