4. Sales are planned for a department at $2,345,698 for the Fall season. The seasonal turnover...
4. Sales are planned for a department at $2,345,698 for the Fall season. The seasonal turnover objective is 1.6.
Calculate the BOM stock for the months of August, September and December if sales are planned at $199,384, $342,643, and $703,709 respectively and the basic stock method is used.
August BOM Stock:
September BOM Stock:
December BOM Stock:
please show your work, thank you
Homework Answers
| We would use the following formulas | |||||||||||
| i. | Basic Stock= Average Stock for the Season - Average Monthly Sales for the Season | ||||||||||
| where | |||||||||||
| Average Monthly Sales for the Season = Total Planned Sales for the Season / Number of months in the Season | |||||||||||
| Average Stock for the Season = Total Planned Sales for the Season / Estimated Inventory Turnover Rate for the Season | |||||||||||
| Beginning of the Month (BOM) stock = Planned Monthly Sales + Basic Stock | |||||||||||
| Fall Season is generally for 3 months | |||||||||||
| thus Average Monthly Sales for the Season = 2345698/3 = 781899.33 | |||||||||||
| Average Stock for the Season = 2345698/1.6 = 1466061.25 | |||||||||||
| thus Basic Stock = 1466061.25 - 781899.33 = 684161.92 | |||||||||||
| Thus August BOM Stock : Planned Monthly Sales (199384) + Basic Stock (684162 rounding off) | |||||||||||
| : 199384 + 684162 = 883546 | |||||||||||
| Thus September BOM Stock : Planned Monthly Sales (342643) + Basic Stock (684162 rounding off) | |||||||||||
| : 342643 + 684162 = 1026805 | |||||||||||
| Thus December BOM Stock : Planned Monthly Sales (703709) + Basic Stock (684162 rounding off) | |||||||||||
| : 703709 + 684162 = 1387871 | |||||||||||
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