Managerial Accounnting 7e (Don R.Hansen Maryanne M.Mowen)管理会计(高等教育出版社)于增彪(清华大学) 改编余绪缨(厦门大学) 审校

管理会计（高等教育出版社）

于增彪（清华大学） 改编 余绪缨（厦门大学） 审校 CHAPTER 19

INVENTORY MANAGEMENT

QUESTIONS FOR WRITING AND DISCUSSION

1. Ordering costs are the costs of placing and

receiving an order. Examples include clerical costs, documents, insurance, and unloading. 2. Setup costs are the costs of preparing

equipment and facilities so that they can be used for producing a product or component. Examples include wages of idled production workers, lost income, and the costs of test runs. 3. Carrying costs are the costs of carrying in-ventory. Examples include insurance, taxes, handling costs, and the opportunity cost of capital tied up in inventory. 4. Stockout costs are the costs of insufficient

inventory (e.g., lost sales and interrupted production). 5. As ordering costs decrease, fewer and larg-er orders must be placed. This, in turn, in-creases the units in inventory and, thus, in-creases carrying costs. 6. Reasons for carrying inventory include the

following: (a) to balance setup and carrying costs; (b) to satisfy customer demand; (c) to avoid shutting down manufacturing facilities; (d) to take advantage of discounts; and (e) to hedge against future price increases. 7. The economic order quantity is the amount

that should be ordered so as to minimize the sum of ordering and carrying costs. 8. Reorder point = 3 12 = 36 units; Safety

stock = 3(15 – 12) = 9 units

9. Safety stock is simply the difference be-tween maximum demand and average de-mand, multiplied by the lead time. By reor-dering whenever the inventory level hits the safety stock point, a company is ensured of always having sufficient inventory on hand to meet demand. 10. JIT minimizes carrying costs by driving in-ventories to insignificant levels. Ordering costs are minimized by entering into long-term contracts with suppliers (or driving se-tup times to zero). 11. JIT manufacturing is a demand-pull ap-proach to manufacturing. It differs from tradi-tional manufacturing by significantly reducing reliance on inventories, forming manufactur-ing cells, using interdisciplinary labor, decen-tralizing services, and adopting a philosophy of total quality control. 12. Manufacturing cells are collections of ma-chines and labor dedicated to the production of a single product or subassembly. Each cell is capable of performing a variety of op-erations. This differs from the departmental organization where a collection of the same machines is used to perform the same oper-ation on multiple products. 13. By forming manufacturing cells that are

dedicated to a single product, all costs asso-ciated with the cell are traceable to the prod-uct. Machinery and services that formerly belonged to several products now belong

Managerial Accounnting 7e (Don R.Hansen Maryanne M.Mowen)管理会计(高等教育出版社)于增彪(清华大学) 改编余绪缨(厦门大学) 审校

only to a single product. For example, de-preciation, material handling, and mainten-ance become direct product costs.

14. JIT hedges against future price increases

and obtains lower input prices (better usually than quantity discounts) by the use of long-term contractual relationships with suppliers. Suppliers are willing to give these breaks so that they can reduce the uncertainty in the demand for their products. 15. EDI, or electronic data interchange, allows

suppliers to have access to a buyer’s data-base. Information on the buyer’s database is used to determine when supplies should be delivered. When supplies arrive, their receipt is noted electronically, and payment is in-itiated. No paperwork is involved. Conti-nuous replenishment is where suppliers are given responsibility to replenish the buyer’s inventory stock. EDI facilitates this by provid-ing information (electronically) needed by the supplier to make replenishment decisions. 16. Shutdowns in a JIT environment are avoided

by practicing total preventive maintenance

Managerial Accounnting 7e (Don R.Hansen Maryanne M.Mowen)管理会计(高等教育出版社)于增彪(清华大学) 改编余绪缨(厦门大学) 审校

and total quality control and by developing close relationships with suppliers to ensure on-time delivery of materials. Internally, a Kanban system is used to ensure the timely flow of materials and components.

17. The Kanban system is used to ensure that

parts or materials are available when needed (just in time). The flow of materials is controlled through the use of markers or cards that signal production of the necessary quantities at the necessary time. 18. Constraints represent limited resources or

demand. Internal constraints are limiting fac-tors found within the firm. External con-straints are limiting factors imposed on the firm from external sources. 19. Loose constraints are those where the prod-uct mix chosen does not consume all the available resources. A binding constraint is one where the product mix uses all the li-mited resource. 20. Following are three measures of organiza-tional performance used by the theory of constraints: throughput—the rate at which an organization generates money; invento-ry—the money an organization spends in turning materials into throughput; and oper-ating expenses—the money the organiza-

tion spends in turning inventories into throughput. The objective is to maximize throughput and minimize inventory and op-erating expenses.

21. Lower inventories mean that a company

must pay attention to higher quality—it can-not afford to have production go down be-cause of defective parts or products. It also means that improvements can reach the customer sooner. Lowe …… 此处隐藏：18979字，全部文档内容请下载后查看。喜欢就下载吧 ……