363 test3 - ch. 10 ch. 9 optimal inventorymgmt seeks to...

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ch. 10 ch. 9 optimal inventory—mgmt seeks to determine amt of inventory enough to serve the operation w/o suffering excess inventory costs principle object of inventory mgmt—maintain only necessary inventory amts to serve guests w/o running out, BUT not have so much that spoilage/storage costs result par stock approach—buyer accepts supplier delivery/order scheds then determines a par stock level. Buyer subtracts Stock on hand from the par stock and orders that amt to bring stock back up to level par stock—a level of inventory that the buyer feels must be on hand to maintain supplying it between orders buyer procedures for par stock orders—accept suppliers ordering proceds and deliv scheds, decide when to order enough to bring stock level to par, set par stocks to last between regular deliveries, subtract on hand stock from par stock plus any additional and order that, shop around suppliers if necessary, reevaluate stock levels to adjust as needed
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363 test3 - ch. 10 ch. 9 optimal inventorymgmt seeks to...

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