Cycle counting ______. A. is used to determine average cycle service level B. is used to...
Cycle counting ______.
A. is used to determine average cycle service level
B. is used to identify shelves needing repair
C. has a lower tolerance level for slower-moving items
D. follows a schedule such that the quantity of every SKU in inventory is counted at least once a year
Homework Answers
The correct option is D. follows a schedule such that the quantity of every SKU in inventory is counted at least once a year
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Cycle counting ______.
A. is used to determine average cycle service level
B. is used to...
Cycle counting: is a process by which inventory records are verified once a year. eliminates annual...
Cycle counting: is a process by which inventory records are verified once a year. eliminates annual inventory adjustments. provides a measure of inventory turnover. assumes that all inventory records must be verified with the same frequency. assumes that the most frequently used items must be counted more frequently.
3) Which of the following is most true of cycle counting? a. requires the checking of...
3) Which of the following is most true of cycle counting? a. requires the checking of many items a few times during the year b. requires the checking of every item many times during the year c. it is applied to all inventory items once a year d. it is used to identify and remove the root causes of errors in inventory recor e. It will always provide 100% inventory record accuracy 4) Which of the following is NOT TRUE...
1. Cycle counting: a) means that we count all articles after a specified time period b)...
1. Cycle counting: a) means that we count all articles after a specified time period b) leads us to count A items more frequent then B items c) require all A items to be counted the same day d) is a legal requirement 2. Extra units in inventory to help reduce stockouts are called: a) reorder point. b) safety stock. c) just-in-time inventory. d) all of the above. 3. The EOQ model is a) not very useful in practice since...
1. In the fixed order quantity inventory system, increasing the target cycle level (CSL) will have...
1. In the fixed order quantity inventory system, increasing the target cycle level (CSL) will have the following effect on the reorder point (ROP): a. The ROP will decrease. b. The ROP will stay the same. c. The ROP will increase. d. The question cannot be answered without the numerical information. 2. In the fixed order quantity inventory system, increasing the target cycle service level (CSL) will have the following effect on the optimal order quantity (i.e., the EOQ): a....
Which of the following methods can be used to forecast the demand for a NEW product?...
Which of the following methods can be used to forecast the demand for a NEW product? OA) average demand OB ) exponential smoothing OC) equation fitting OD ) moving averages OE) qualitative techniques Which of the following statements concerning inventory management objectives is false? O Knowing how much inventory should be ordered at one time. Provide the required level of customer service. Reduce the sum of all costs involved. When the order is placed is not a priority. All are...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form ilustrated in Exhibit 9. Inventory Cost per Inventory Quantity Market Value per Unit (Net Realizable Value) Item Unit Birch $173 $148 Cypress 202 Mountain Ash 189 278 155 299 Spruce Willow 221 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total Market Total Lower of Cor Birch Cypress...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch $68 Cypress Mountain Ash Spruce 149 256 Willow Inventory at the Lower of Cost or Market Total Lower of C or M Inventory Item Birch Total Cost Total Market S Cypress Mountain Ash...
HighMed, a manufacturer of medical equipment used in heart procedures, is located in Madison, Wisconsin, and...
HighMed, a manufacturer of medical equipment used in heart procedures, is located in Madison, Wisconsin, and its products are used by cardiologists all over North America. The medical equipment is not sold through purchasing agents but directly to doctors. HighMed currently divides the United States into 24 territories, each with its own sales force. All product inventories are maintained locally and replenished from Madison every four weeks using UPS. The average replenishment lead-time using UPS is one week. UPS charges...
A golf specialty wholesaler operates 350 days per year. Management is trying to determine an inventory...
A golf specialty wholesaler operates 350 days per year. Management is trying to determine an inventory policy for its 1-irons. The cost to place orders with the supplier is $25/order; the demand averages 12,000 items per day, with a standard deviation of 3,000 item. The annual inventory holding cost is $2.00 per item. The lead time form the supplier is 5 days, with a standard deviation of 2 days. It is important to maintain a 95 percent cycle-service level to...
Cycle counting: is a process by which inventory records are verified once a year. eliminates annual inventory adjustments. provides a measure of inventory turnover. assumes that all inventory records must be verified with the same frequency. assumes that the most frequently used items must be counted more frequently.
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form ilustrated in Exhibit 9. Inventory Cost per Inventory Quantity Market Value per Unit (Net Realizable Value) Item Unit Birch $173 $148 Cypress 202 Mountain Ash 189 278 155 299 Spruce Willow 221 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total Market Total Lower of Cor Birch Cypress...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch $68 Cypress Mountain Ash Spruce 149 256 Willow Inventory at the Lower of Cost or Market Total Lower of C or M Inventory Item Birch Total Cost Total Market S Cypress Mountain Ash...
A golf specialty wholesaler operates 350 days per year. Management is trying to determine an inventory policy for its 1-irons. The cost to place orders with the supplier is $25/order; the demand averages 12,000 items per day, with a standard deviation of 3,000 item. The annual inventory holding cost is $2.00 per item. The lead time form the supplier is 5 days, with a standard deviation of 2 days. It is important to maintain a 95 percent cycle-service level to...
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