Important Issues in Material Procurement
Ø Economic Order Quantity: One significant question that is to be answered through the Purchase Manager is at any one time how much to purchase? Alternatively, at any one point of time how much quantity is to be ordered? Whether there are some costs related with the ordering quantity excepting the purchase price? It will be note that to the ordering quantity there are costs attached. There are two types of these costs, the ordering cost and the carrying cost. The cost of placing an order is known as ordering cost. Alternatively, it can be said that while an order is placed, the company has to acquire specific costs at the time of order. These costs involve costs such as stationery costs, handling and transportation costs, costs incurred for inviting quotations and tenders etc. The more increment is the frequency of order, the more increment is these costs.
Ø Fixation of Level: other significant aspect of material procurement is not to purchase very much or so much little. Likewise the timing of the purchase is also important. Fixation of levels of materials is completed accurately with these purposes in mind. The following levels of materials are fixed for accomplishing objectives such as avoiding overstocking, making sure that the material is ordered at right time and also avoiding lack of materials.
Maximum Level = Re-order Level + Re-order Quantity - [Minimum Consumption* Minimum Reorder period]
Minimum Level = Ordering Level - [Average rate of consumption Re-order period]
Re-order Level = Maximum Usage per Period * Maximum Re-order Period
Average Level = Maximum Level + Minimum Level / 2
Ø Danger Level: Generally the danger level of stock is indicated below the safety or minimum stock level. Occasionally, relies on the practices of the firm and conditions prevailing, the danger level is determined among the re-order level and minimum level.
Latest technology based Cost Accounting Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Important Issues in Material Procurement homework help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Important Issues in Material Procurement, project ideas and tutorials. We provide email based Important Issues in Material Procurement homework help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Important Issues in Material Procurement. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Cost Accounting homework help and assignment help services. They use their experience, as they have solved thousands of the cost accounting assignments, which may help you to solve your complex issues of Important Issues in Material Procurement. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
String to Number Conversions-Assignment help and Homework help along with the key concepts of atoi Function, atol Function, atof Function, Character Test Functions and Mathematical Functions
Trematodes tutorial all along with the key concepts of Adult Digenean Fluke, Lifecycle of the Major Groups of Digenean, Digenean Trematode Egg, Larval Digeneans, Characteristics of digenetic Trematodes
Conservation of Natural resources tutorial all along with the key concepts of Natural Resources, Need for Conservation, Control and reduction of human population, Conservation of non-renewable Resources, Conservation of Renewable Resources and Benefits of conservation
tutorsglobe.com actinomycotic granules assignment help-homework help by online mycetoma tutors
Objectives of Accounting are Systematic recording of transactions, determine of results of recorded transactions and the financial position of the business, giving information to the users for rational decision-making and to know the solvency position.
tutorsglobe.com chemical properties of halogen family assignment help-homework help by online halogen family tutors
tutorsglobe.com fractures assignment help-homework help by online bones and joints tutors
tutorsglobe.com manganese and copper assignment help-homework help by online physiological role and deficiency symptoms tutors
tutorsglobe.com physical and chemical basis of heredity assignment help-homework help by online chromosomal basis of inheritance tutors
Theory and lecture notes of MATLAB function and its DATA types all along with the key concepts of functions and data, MABLAB function, MATLAB DATA types. Tutorsglobe offers homework help, assignment help and tutor’s assistance on MATLAB function and its DATA types.
liquidity ratios are considered with the capability of the business to meet its short-term financial obligations.
The important advantages of Inter Firm Comparison are Improvement in efficiency, Increased productivity, Reliable information, Assistance to Government, etc.
www.tutorsglobe.com offers Unified Approach to OOA homework help, assignment help, case study, writing homework help, online tutoring assistance by computer science tutors.
Types of pericyclic reactions tutorial all along with the key concepts of General classification of pericyclic reactions, Cycloaddition Reactions, Cheletropic reactions, Electrocyclic reactions, Dyotropic rearrangements, Group transfer pericyclic reaction
Gravimetric Analysis of a Soluble Chloride tutorial all along with the key concepts of Safety and laboratory method note, Preparation of Filter Crucibles, Preparation of the Chloride Unknown Samples, Precipitation of Chloride by Silver Ion, Filtration and Final Weighing
1943105
Questions Asked
3689
Tutors
1495181
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!