Describe at least two factors you could consider helping decide how much inventory to keep in stock of an item at a store.

Lead Time

Holding cost

Explanation:

Two factors that should be considered in determining the level of inventory to keep in stock of an item at a store are the lead time and Holding cost

Lead time : Lead time is defined as the length of time between when an order for an item is placed and when it is delivered . This is very important in order to avoid down time during operation , To this effect , an adequate level of inventory that should last the operation during the lead time should be kept in stock as re-order level

Holding cost : This is the cost involved in keeping inventory in stock . Being a variable cost , the higher the volume of inventory , the higher the cost. This cost should be considered alongside other operation related factors  like the lead time factors to ensure that its effect on the net income of the company is not overwhelming.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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