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Inventory Control Management Case Study for Randy Smith

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Added on  2020-10-01

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This case study discusses inventory control management for Randy Smith, including recommendations for specific parts based on their value and demand, the use of ABC inventory analysis, and tips for reducing carrying costs and ordering costs. Other factors to consider include lead time, return items, and economic factors.

Inventory Control Management Case Study for Randy Smith

   Added on 2020-10-01

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Case study Randy Smith, inventory Control Manager
Inventory Control Management Case Study for Randy Smith_1
Case study 3 Question 1: Part number “1236" has a high-value price of $15 per unit. The part has almost had half-year worth of inventory. This part will result in high inventory carrying costs because of its high pricesand has a high level of inventory. This part should be kept as Low-level inventory to reduce carrying costs. Part number "1241" has a low-price value of $0.05 per unit and low in inventory storage. This part had a bad history of delivery, and the part has a very long lead time but high annual demand. For this part, we should keep a High level of inventory since it has long lead time and lower carrying cost.
Inventory Control Management Case Study for Randy Smith_2

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