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11 If a firm uses a just in time inventory system what effect is that likely to have on the number and location of suppliers?
A just-in-time (JIT) inventory system typically requires a firm to maintain close relationships with a limited number of suppliers to ensure timely delivery of materials and components. This often leads to the selection of suppliers located nearby to minimize lead times and transportation costs. Consequently, firms may reduce the overall number of suppliers to streamline operations and enhance coordination, focusing instead on building strong partnerships with a few key suppliers.
What else can I help you with?
What is the inventory system in accounting?
Inventory system is more likely recorded in the Balance Sheet section in accounting. It will not be at the Profit and Loss section.
Inventory method that least likely mimics actual physical flow of inventory?
FIFO method where the older items are sold first.
An auditor selected an inventory item on the warehouse floor test counted it and traced the count to the final inventory compliation The auditor most likely was testing the?
The Auditor was maybe testing the warehouse inventory counts and who maybe in control on the inventory control
Williams and Sons last year reported sales of 10 million and an inventory turnover ratio of 2 The company is now adopting a new inventory system If the new system is able to reduce the firm's inven?
If Williams and Sons reduces its inventory through the new system, the inventory turnover ratio will likely increase, reflecting more efficient inventory management. A higher turnover ratio indicates that the company is selling its inventory more quickly, which can improve cash flow and reduce holding costs. The exact impact on sales will depend on how well the new system is implemented and its effect on customer demand and operational efficiency.
What companies would be more likely to use the specific identification inventory costing method?
walmart
If a firm uses just in time inventory system what effect is that likely to have on the number and location of suppliers?
Companies using a just-in-time inventory system will need to have their vendors close by. They will also need to have a lot of vendors and suppliers.
What you need to open sprinkler company?
To open a sprinkler company you will need a business plan, a location, customers, and inventory. You will likely need licensing if you are working within a municipality.
What happened to the missing items that suddenly disappeared from the inventory?
The missing items that disappeared from the inventory were likely stolen or misplaced.
Which type of organization would most likely have work-in-process inventory?
Manufacturing organizations are most likely to have work-in-process inventory. This type of inventory represents partially completed goods that are still in production but not yet ready for sale.
Why are suppliers interested about the business?
It is in the best interest of suppliers if the companies that they sell to do well. Many suppliers attempt to create long-term relationships with customers in order to get repeat business. The better their regular customers perform, the more likely the suppliers are to get repeat business.
What is the inventory system in accounting?
Inventory system is more likely recorded in the Balance Sheet section in accounting. It will not be at the Profit and Loss section.
Inventory method that least likely mimics actual physical flow of inventory?
FIFO method where the older items are sold first.
An auditor selected an inventory item on the warehouse floor test counted it and traced the count to the final inventory compliation The auditor most likely was testing the?
The Auditor was maybe testing the warehouse inventory counts and who maybe in control on the inventory control
If there is a reduction in the number of suppliers for producing salt what happens to the supply?
If there is a reduction in the number of suppliers for producing salt, the overall supply of salt in the market will likely decrease. This reduction can lead to higher prices due to decreased competition among suppliers. As a result, consumers may face limited availability of salt, which could also drive up demand in the short term. Ultimately, the market may adjust over time, but the immediate effect is a contraction in supply.
Williams and Sons last year reported sales of 10 million and an inventory turnover ratio of 2 The company is now adopting a new inventory system If the new system is able to reduce the firm's inven?
If Williams and Sons reduces its inventory through the new system, the inventory turnover ratio will likely increase, reflecting more efficient inventory management. A higher turnover ratio indicates that the company is selling its inventory more quickly, which can improve cash flow and reduce holding costs. The exact impact on sales will depend on how well the new system is implemented and its effect on customer demand and operational efficiency.
Which type of organization would most likely have work in process inventory?
A manufacturing company
Which type of organization would most likely have work-in process inventory?
A manufacturing company
