A store specialized in various materials the building sector unknowns which items should have a more dedicated inventory management. Actually, the store policy is that all stocks should be managed equal. However, this inventory system requires an enormous amount of human and monetary resources and due limitations now there is enormous amount of errors. For this reason, the management team is thinking to change this policy and use their resources in a more efficient way. The following table shows data related with these materials: the identification code of the item, its volume monthly demand and unit cost.
NOTE: Solve the problem by hand and then using Excel.
|ITEM||VOLUME ANNUAL DEMAND||UNIT COST|
By: Flors Fumas, Zlatka Hristova, Berta Ambrós and Èlia Esmandia