Explore BrainMass
Share

Inventory Control Methods

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Jim Overstreet, inventory control manager for Itex, receives wheel bearings from Wheel-Rite, a small producer of metal parts. Unfortunately, Wheel-Rite can only produce 500 wheel bearings per day. Itex receives 10,000 wheel bearings from Wheel-Rite each year. Since Itex operates 200 working days each year, its average daily demand for wheel bearings is 50. The ordering cost for Itex is $40 per order, and the carrying cost is 60 cents per wheel bearing per year. How many wheel bearings should Itex order from Wheel-Rite at one time? Wheel-Rite has agreed to ship the maximum number of wheel bearings that it produces each day to Itex when an order has been received.

© BrainMass Inc. brainmass.com October 24, 2018, 11:42 pm ad1c9bdddf
https://brainmass.com/economics/microeconomics/inventory-control-methods-202603
$2.19
See Also This Related BrainMass Solution

Fortune 500 Research

Hello: I am looking for your guidance with the following:

. Fortune 500 Research Outline
pick a fortune 500 company and prepare a one-to-two page detailed outline. In your outline be sure to include information on the following topics:
1. What forecasting technique(s) does this company use?
2. How does your selected organization prepare budgets?
3. What MRP concepts do you see with regard to your organization?
-------------------------------------------------------------------------
Planning and controlling the supply chain
a. Utilize your outline,as a basis:
b. Prepare a 1,400-1,750-word paper in which you:
1) Differentiate at least two-to-three key elements for each of the four primary forecasting techniques and how they apply to your chosen organization.
2) Analyze the impact of production plans, master production schedules, rough cut capacity planning, workforce size, and carrying inventory as they relate to budgets for your chosen organization.
3) Depending on whether the organization you selected is a manufacturing or service organization, compare and contrast how MRP usage would be different for this organization and one of the opposite type of organization.
4) Compare and contrast the use of Material Requirements Planning (MRP) system concepts for your chosen organization.
Site all references used for the paper.

Thank you in advance.

View Full Posting Details