STUDIES OF INVENTORY CONTROL AND CAPACITY PLANNING WITH MULTIPLE SOURCES A Dissertation Presented to The Academic Faculty By Frederick Craig Zahrn In Partial Fulfillment Of the Requirements for the Degree Doctor of Philosophy in Industrial Engineering Georgia Institute of Technology August 2009 STUDIES OF INVENTORY CONTROL AND CAPACITY PLANNING WITH MULTIPLE SOURCES Approved by: Dr. Shi-Jie Deng, Advisor School of Industrial and Systems Engineering Georgia Institute
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ideally, just enough to provide what consumers want. JIT also is a production and inventory control system in which materials are purchased and units are produced only as needed to meet actual customer demand. In just in time manufacturing system inventories are reduced to the minimum and in some cases they are zero. Companies typically hold inventory in three locations which are raw materials, work-in-process inventory of partially worked materials or sub-assemblies for workstations to complete, besides
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revenue $1,200 Net Cash provided by operating activities $114,500 Working note: 1 Accounts receivable Bal Dec 31, 2009 $58,600 Cash receipts $248,200 Sales $243,000 Bal Dec 31, 2010 $53,400 Working note: 2 Merchandise inventory Bal Dec 31, 2009 $79,000 COGS $65,000 Purchases $71,000 Bal Dec 31, 2010 $85,000 Accounts payable Cash payments $68,100 Bal Dec 31, 2009 $32,700 Purchases $71,000 Bal Dec 31, 2010 $35,600 Question 2 Jill’s
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conversion cycle. Using the following information and a 365-day year, what is the firm’s present cash conversion cycle? Average inventory = $75,000 Annual sales = $600,000 Annual cost of goods sold = $360,000 Average accounts receivable = $160,000 Average accounts payable = $25,000 Cash Conversion Cycle: Inventory conversion period (ICP) = Average inventory / Cost of goods sold per day = 75,000 / (360,000/365)
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------------------------------------------------- Top of Form Income Statement | | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Gross Profit | Revenues | 0 | 3,644,137 | 4,627,251 | 6,353,663 | - Rebates | 0 | 41,375 | 50,913 | 69,675 | - Cost of Goods Sold | 0 | 1,843,926 | 2,277,733 | 2,884,733 | = Gross Profit | 0 | 1,758,836 | 2,298,605 | 3,399,255 | | | | | | | | | | | | | | | | Expenses | Research and Development | 120,000 | 120,000 | 0 | 0 | + Advertising
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included in their assets list and Kellog’s don’t do that. It is occurred because of the net loss carry over from the previous year. Kellog’s have Account receivable as the largest asset in 2010 i.e. 1190 million dollars while GMI in the same year has Inventories as its largest asset as 1344 million dollars. ------------------------------------------------------------------------------------------------------------------------------------------ Question 4 For Kellogg: The Company has 2915 million USD
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We recommend that Scientific Technology Company implement several immediate cost-cutting measures in order to improve their short-term financial position allowing the company to remain competitive in the current marketplace as well as to ensure future viability in the ATE and VLSI industries. We recommend that Scientific Technology Company immediately shut down its Arizona manufacturing plant. The shutdown and sell off of the fixed assets from the Arizona plant will provide the company with a
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more complex or expensive and where there may be a number of potential vendors • Vendor managed inventory: when a customer actually allows the supplier to manage an item or group of items for them What is Outsourcing? • Outsourcing: the act of moving a firm’s internal activities and decision responsibility to outside providers • Allows a company to create a competitive advantage while reducing cost • An entire function may be outsourced, or some elements of an activity may be outsourced, with
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Implementation of one day delivery coupled with unenforced accounts receivable terms has lead Cape Chemicals to tremendous growth. Unfortunately, these policies have also caused cash flow deficiencies in the form of high inventory and lack of receivables collected. Being that inventory and accounts receivables make up most of the working capital factor, high ratios of either in comparison to sales can prove to be detrimental. This case does an excellent job in providing an example of this situation.
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Scientific Glass, Inc; Inventory Management Company Background Scientific Glass established in 1992. It manufactures specialized glassware for laboratory usage and research facilities. Especially, middle size target is very high competition, which focusing on providing durable product, innovative design, and superior customer service. This forces the company focus on niche market by using information system to enable specific market focus in order to serve target better than competitors. In
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