Mikes Bikes WOB TEST 2 Flashcards Preview

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Flashcards in Mikes Bikes WOB TEST 2 Deck (6):
1

What inventory concept includes functions and objectives?

Forecasting

2

Safety stock equations

Safety Stock = (Prior period sales / 52 weeks) x number of weeks of desired safety stock

3

What is the amount to order equation?

Amount to order = expected demand + safety stock - inventory on hand

4

What happens if you forecast inaccurately

Loss of sales

5

If you forecast 1000 bikes but demanded 2000 what would happen?

Lost sale of 1000 bikes

6

What inventory concept includes fixed order interval model?

Production quantity

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