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Purpose
The purpose of this assignment is to explore and appreciate decisio
Purpose
The purpose of this assignment is to explore and appreciate decisions relating to inventory management and optimisation to deliver best outcomes for customers.
Assignment Guidelines
Question 1 (10%)
A local shop has a relatively stable demand for tins of sweetcorn throughout the year, with an annual total of 1,400 tins. The cost of placing an order is estimated at €15 and the annual cost of holding inventory is estimated at 25 per cent of the product’s value. The company purchases tins for 20c. How much should the shop order at a time, and what is the total cost of the plan?
Question 2 (40%)
Given the drive to operate with less working capital and the implementation leading supply chain operational practices such as JIT that are now prevalent in many companies, Do we really need inventory in Supply Chain ? Discuss, reflecting on raw materials and finished goods policies and practices, as well as supply chain and market risks. Use examples from your own experience to support your views. (800 words)
Resources
Chapters 10 & 13 Operations Management
Grading Criteria
See KBS grade descriptions in Module Outline
Submission Instructions
Submission Dates: April 17th 23.55
Indicative Word Count: As indicated for each question where relevant
Font Size: 12 – Times New Roman
Spacing: 1.5 Spacing
File Naming and Format
1. Type up your assignment and name the file according to this example: Assignment-Firstname-Lastname
2. Include your name, student ID, module title and code on the cover page.
3. Submit your assignment file via the Brightspace Assignment tool on this module.
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