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Four commonly used techniques for effectively

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Unformatted text preview: conversion cycle. LG2 Discuss inventory management: differing views, common techniques, and international concerns. The viewpoints of marketing, manufacturing, and purchasing managers about the appropriate levels of inventory tend to cause higher inventories than those deemed appropriate by the financial manager. Four commonly used techniques for effectively managing inventory to keep its level low are (1) the ABC system, (2) the economic order quantity (EOQ) model, (3) the just-in-time (JIT) system, and LG3 627 (4) the materials requirement planning (MRP) system. International inventory managers place greater emphasis on making sure that sufficient quantities of inventory are delivered where they are needed, when they are needed, and in the right condition, than on ordering the economically optimal quantities. Explain the credit selection process and the quantitative procedure for evaluating changes in credit standards. Credit selection and standards are concerned with applying techniques for determining which customers’ creditworthiness is consi...
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