Business > QUESTIONS & ANSWERS > BUSINESS 314 Operations Management: Inventory Management. Why it might be inappropriate to use inven (All)
BUSINESS 314 Operations Management: Inventory Management. Why it might be inappropriate to use inventory turnover ratios to compare inventory performance of companies that are in different industries?... 7. How would you respond to the criticism that EOQ models tend to provide misleading results because values of D,H,S are educated guess? 8. Explain briefly how a higher carrying cost can result in a decrease in inventory? 12. Describe briefly the ABC approach to inventory control. 17. What are some ways in which a company can reduce the need for inventories? Ans: A company can reduce the need for inventories by: a. using standardized parts b. improved forecasting of demand c. using preventive maintenance on equipment and machines [Show More]
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