Stock control & Supply chain | Baamboozle - Baamboozle

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Business

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The supply chain connects these four elements

organization, information, resources and activities

Reduces the chance of holding stock that cannot be sold (eg obsolescent stock) JIC or JIT?

JIT

Means that all stock is stored ready to use. There is no delivery issue and no waiting time for customers. JIT or JIC?

JIC

It is basic to ensure the good functioning of the supply chain, aiming at a balance between reducing costs and avoiding supply chain problems

Stock control

The minimum point of the total cost or EOQ is the amount that should be ordered for a given time period, and stands for...

Economic Order Quantity

Which two sets of costs are combined to obtain the EOQ?

Cost of holding stock and Cost of stock out

The minimum stock level to ensure production and fulfilling demand (we should never go lower)

Buffer stock

In stock control, what is Lead Time?

Time span between reorder and receipt.

Cash-flow levels, possibilities of trade credit, enough finances to bulk buying... what are these regarding stock control?

Finance factors to calculate the optimal stock levels

As cash is not tied up in stocks, working capital can be better used elsewhere, thereby improving the firm's cash flow position. JIT or JIC?

JIT

This system prove to be inflexible in trying to cope with a sudden increase in demand. JIC ir JIT?

JIT

It enables a business to take advantage of purchasing economies of scale (from bulk buying raw materials and components for production). JIT or JIC?

JIC

Which level shows the line in the middle?

Reorder level

What shows the vertical arrow?

Reorder quantity

WHich is the amount of buffer stock?

10 000 units