Management of Inventory Example
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Original only please in 200-250 words with two references.
Locate a firm that incorporates the fixed order quantity system, fixed order period system, or a hybrid system to its management of inventory.
Identify the type of inventory system it uses.
Indicate the type of inventory issues the firm has such as stock out costs, carrying costs, order quantity issues, safety stock, and EOQ issue.
In your opinion, is its system appropriate for the firm's business?
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Solution Summary
This solution locates a firm that incorporates the fixed order quantity system, sized order period system, or a hybrid system for its' management of inventory. It includes references and a link. This solution is 300 words.
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The National Beverage Corporation (FIZ) uses a hybrid inventory system in order to maintain their position as a cost-effective producer of beverage products. The company uses a centralized purchasing of raw materials, vertical integration of the manufacturing process, close proximity to customer distribution centers, and the use of multiple distribution centers. The National Beverage Corporation maintains control over their inventory by producing its own flavor concentrates, which are then used in company owned manufacturing facilities, and distributed via company owned trucks. Inventories are ...
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