Stock, Quality & J.I.T
1. Which of the 3 definitions of ‘stock’ applies to Amazon?The three definitions of STOCK are: Raw materials, Work-In-Progress and Finished Goods. Amazon hold Finished Goods where products have been completed to the right quality.
2. Why would Amazon not want to hold stock if it can help it?
They would not hold stocks because its costs money by just keeping it on the shelves as it is not getting sold also stock may become out of date which is not good especially if no one is buying the product.
3. What are the 2 main methods of stock management?
Stock rotation - get rid of the old stuff maybe on sale Or put is out to waste
4. What does a stock control chart do?
The stock control chart examines what is popular and what is not within the company so they are able to know. It can also analyse its stock situation by using: Maximum Stock level, Re-stock level, Minimum Stock level.
5. A picture of a stock control chart in your tack
6. What is ‘Just in Time’?
Just In Time is denoting a manufacturing system in which materials or components are delivered immediately before they are required in order to minimize storage costs.
7.Why would Amazon use ‘just in time’?