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Read the following case and answer the questions given at the end: Your corporation took many steps to make the supply chain leaner. These include new sourcing strategy, improving supplier relationship and replenishment policies of inventories of key components. In the case of lithium-nickel batteries, the corporation uses P-model for inventory replenishment. The daily demand of lithium-nickel batteries is d with a daily standard deviation of s. The lead time is L and review period is T. Zee Corporation has a policy of 95% probability of not stocking out the components (Z=1.64).
Considering the prices of lithium-nickel batteries is fast increasing. Aman is considering using Q-model for lithium-nickel batteries inventory management.
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Order Paper NowCalculate the change in safety stocks of lithium-nickel batteries if company shifts from P-model to Q- model? How system thinking can help in better management of manufacturing?
The new audit report reveals that as a result of new policies inventory turnover ratio has decreased from 11 to 7.
Can we conclude that inventory system of Zee Corporation has improved?
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