Inventory planning and control Question:
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Which of these statements is correct?
Answer:
1. Will depend on how many related parts are required in the same period
2. Is used to calculate how much safety stock should be carried
3. Is a formula that calculates a realistic purchase price for an item
4. Should be calculated once a year
5. Determines the lowest order quantity by balancing the cost of ordering against the cost of holding stock
Determines the lowest order quantity by balancing the cost of ordering against the cost of holding stock
2. Is used to calculate how much safety stock should be carried
3. Is a formula that calculates a realistic purchase price for an item
4. Should be calculated once a year
5. Determines the lowest order quantity by balancing the cost of ordering against the cost of holding stock
Determines the lowest order quantity by balancing the cost of ordering against the cost of holding stock
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