ckrisay-P4 - to purchase just the right amount of inventory...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Lab Project 4 – Material Requirements Planning Name: Krisay, Chelsey Class: MIS 111 Section 5 Project: Project 4 –Material Requirements Planning E-Tegrity Statement : By submitting this assignment for grading, I state or affirm the work submitted is my own work and that I did not allow another student to copy my work. I understand copying can include directly giving another student a copy of my solution or simply leaving written or electronic copies of my work where another student may find them. Section 1: Excel Spreadsheet Objects Krisay, Chelsey MIS 111 Section 5 Page 1 of 2
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Lab Project 4 – Material Requirements Planning Section 2: Report There are many benefits to using an Economic Order Quantity. Using an Economic Order Quantity helps
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: to purchase just the right amount of inventory so that there is neither too large of a surplus nor not enough at all. This also helps to cut down on production and transportation costs so that the profit can be maximized. Reasons for a company setting an EOQ for an item would be the time it takes to produce a part of an item and also how in demand it is and how difficult it may be to get. Once a company decides to use an EOQ it is important that they chose a reasonable EOQ. Looking at previous purchases and the inventory turnover can do this. By knowing in advance what will need to be purchased can save a lot of time and money in the end. Krisay, Chelsey MIS 111 Section 5 Page 2 of 2...
View Full Document

This note was uploaded on 04/07/2009 for the course MIS 002 taught by Professor Patton during the Spring '09 term at University of Arizona- Tucson.

Page1 / 2

ckrisay-P4 - to purchase just the right amount of inventory...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online