Inventory Management in a Company
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Lindsay Electronics, a small manufacturer of electronic research equipment, has approximately 7,000 items in its inventory and has hired Joan Blasco-Paul to manage its inventory. Joan has determined that 10% of the items in inventory are A items, 35% are B items, and 55% are C items. She would like to set up a system in which all A items are counted monthly (every 20 working days), all B items are counted quarterly (every 60 working days), and all C items are counted semi-annually (every 120 working days). How many items need to be counted each day?
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Solution Summary
The solution provides a step-by-step solution to the questions involving inventory. It is easy to follow along and understand. How many items need to be counted each day are determines for inventory management within a company.
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Total Items in Inventory = 7,000
A Items = 10% of 7,000 = 700
B Items = 35% of 7,000 ...
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