few key supplier o Increase the inventory turns from 4 to 20reduce inventory

Few key supplier o increase the inventory turns from

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few key supplier)oIncrease the inventory turns from 4 to 20(reduce inventory from 3.5millions to 0.7millions; inventory turns= 14/0.7=20 times)oReduce the cost for purchased goods by 10% oEliminated stock out (Production staff remove stock without proper documentation; Production staff deviate from established bills of material)QUESTIONS FOR DISCUSSIONWhat role does supply play in support with a firm’s goal?How would you determine which cost-reduction strategies to pursue? And how?How would you evaluate current vendors?How many vendors are desirable for standardized products?How to narrow the supplier base and keep positive relationship with key suppliers?Does the new plan of materials department fit the business goals of company?How long is the production process going to take as calculate delivery lead time?Why the production staff ignore the doc. requirement and bill of material?How would you reduce lead time from 14weeks to 6?How to reduce inventory shortage and obsolesced stocks?How would you cooperate with other departments?

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