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Stock control & Supply chain
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WHich is the amount of buffer stock?
10 000 units
What shows the vertical arrow?
Reorder quantity
Which level shows the line in the middle?
Reorder level
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
This system prove to be inflexible in trying to cope with a sudden increase in demand. JIC ir JIT?
JIT
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
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
In stock control, what is Lead Time?
Time span between reorder and receipt.
The minimum stock level to ensure production and fulfilling demand (we should never go lower)
Buffer stock
Which two sets of costs are combined to obtain the EOQ?
Cost of holding stock and Cost of stock out
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
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
Means that all stock is stored ready to use. There is no delivery issue and no waiting time for customers. JIT or JIC?
JIC
Reduces the chance of holding stock that cannot be sold (eg obsolescent stock) JIC or JIT?
JIT
The supply chain connects these four elements
organization, information, resources and activities
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