BBR505 & WAREHOUSE MANAGEMENT

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Assignment

DRIVE	SPRING 2015
PROGRAM	Bachelor of Business Administration- BBA
SEMESTER	5
SUBJECT CODE & NAME	BBR505 & WAREHOUSE MANAGEMENT
BK ID	B1806
CREDIT & MARKS	4 CREDITS & 60 MARKS

Note – Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q.1 Define the terms ‘Supply Chain’ and ‘Supply Chain Management’. Explain impact of Supply chain on Stores and warehousing.

Answer: - Supply Chain: - The network created amongst different companies producing, handling and/or distributing a specific product. Specifically, the supply chain encompasses the steps it takes to get a good or service from the supplier to the customer. Supply chain management is a crucial process for many companies, and many companies strive to have the most optimized supply chain because it usually translates to lower costs for the

2 Explain the different types of customers in warehousing.

Answer: The warehouse is the most common type of storage though other forms do exist (e.g., storage tanks, computer server farms). Some warehouses are massive structures that simultaneously support the unloading of numerous in-bound trucks and railroad cars containing suppliers’ products while at the same time loading multiple trucks for shipment to customers.

Below we discuss five types of warehouses:

Q.3 Give the meaning of the following:

(a) Retail replenishment

Answer: - Retail replenishment: - Replenishment as "filling again by supplying what has been used up." Replenishment is also a process that occurs regularly. If vendors only offer merchandise in a limited number of

(b) Retail buying

Answer: - A retail buyer is responsible for planning and selecting a range of products to sell in retail outlets. The buyer must consider the following factors when making purchasing decisions:

·         Customer demand, including price, quality and availability;

·         Market trends;

(c) Lead time

Answer: - A lead time is the latency (delay) between the initiation and execution of a process. For example, the lead time between the placement of an order and delivery of a new car from a manufacturer may be anywhere from 2 weeks to 6 months. In industry, lead time reduction is an important part of

(d) Inventory control

Answer: - Inventory Control is the supervision of supply, storage and accessibility of items in order to ensure an adequate supply without excessive oversupply.

It can also be referred as internal control - an accounting procedure or system designed to promote efficiency or

Q.4 What is meant by inventory? What are the different types of inventories?

Answer: - Inventory: - The raw materials, work-in-process goods and completely finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale. Inventory represents one of the most important assets that most businesses possess, because the turnover of inventory represents one of the primary sources of revenue generation and subsequent earnings for the company's shareholders/owners.

Possessing a high amount of

Q.5 What is Economic Order Quantity (EOQ)? How do you calculate EOQ? What are the objections about EOQ?

Answer: - EOQ: - An inventory-related equation that determines the optimum order quantity that a company should hold in its inventory given a set cost of production, demand rate and other variables. This is done to minimize variable inventory costs. The full equation is as follows:

Where:

S = Setup costs

D = Demand rate

P = Production cost

Q.6 Write a brief note on technology aids in retail warehouse management.

Answer: - A warehouse management system (WMS) is a key part of the supply chain and primarily aims to control the movement and storage of materials within a warehouse and process the associated transactions, including shipping, receiving, put away and picking. The systems also direct and optimize stock put away based on real-time information about the status of bin utilization. A WMS monitors the progress of products through the warehouse. It involves the physical warehouse infrastructure, tracking systems, and communication

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