Describe any four major reasons to do demand forecasting.
See Answer →What do you mean by independent demand and dependent demand ? Give
examples of each.
See Answer →A company has the procurement pattern of five items irrespective of their level of
demand as given in the table 1:
Table 1
Item No. Annual Demand (Rs.) No. of orders per year Order Size (Rs.)
| Item No. | Annual Demand (Rs.) | No. of orders per year | Order Size (Rs.) |
| 1 | 10,00,000 | 4 | 2,50,000 |
| 2 | 6,40,000 | 4 | 1,60,000 |
| 3 | 9,00,000 | 4 | 22,500 |
| 4 | 2,500 | 4 | 625 |
| 5 | 1,600 | 4 | 400 |
Reduce the inventory levels while keeping total number of orders per year the
See Answer →What are advantages and limitations of using this classification method ?
See Answer →Discuss the ABC classification inventory using a suitable diagram
See Answer →A television manufacturer requires 24000 pieces of wire (each 2 cm long)
every month for assembly. Ordering cost per order is Rs. 2000 and carrying (or
holding) cost is 25 percent of the unit price. The price per unit of a piece is Rs. 5.
Assuming delivery is instantaneous, find the economic order quantity (EOQ) and
the reorder point.
See Answer →Discuss the fixed quantity order model of inventory control system with a
suitable diagram.
See Answer →) What do you understand by Economic Order Quantity (EOQ) ? Explain EOQ
using suitable diagram.
See Answer →Describe various costs related to inventory.
See Answer →Describe various types of inventory used in manufacturing setup.
See Answer →What are objectives of inventory management ?
See Answer →Why do organizations need inventory ?
See Answer →Master production schedule
See Answer →ABC inventory management strategy
See Answer →Problems with MRP implementation
See Answer →What do you mean by logistics management and how does it relate with the
supply chain management ?
See Answer →What do you understand by supply chain management ? What are potential
benefits of managing the supply chain ?
See Answer →Determine the number of containers needed for a workstation that uses 100
parts per hour if the time for a container to complete a cycle (i.e move, wait,
empty, return, fill) is 90 minutes, and a standard container holds 84 parts. An
inefficiency factor of 0.10 is currently being used.
See Answer →What do you mean by ‘Kanban’ and what is its role in production system.
See Answer →What are the various wastes of manufacturing and describe any two of them
with suitable examples ?
See Answer →