ESTABLISHING the right degree of diversification needed for a company's product lines can be a vexing task. In their eagerness to offer variety and selectivity to the customer…
Abstract
ESTABLISHING the right degree of diversification needed for a company's product lines can be a vexing task. In their eagerness to offer variety and selectivity to the customer, sales people tend to push for an ever increasing variety of models, designs, styles, patterns, colours and sizes. In contrast cost conscious production people may view this proliferation with misgivings. They realize only too well the tremendous toll—in terms of additional set‐up times, scheduling problems, training tasks and other expenses—that can result from needless diversity.
C.K. Walter and Bernard J. La Londe
In calculations of inventory control costs, the effects of stockouts are often assumed or avoided because of the lack of accounting data for reasonable measurements. The authors…
Abstract
In calculations of inventory control costs, the effects of stockouts are often assumed or avoided because of the lack of accounting data for reasonable measurements. The authors describe the development of stockout cost models incorporating decisions made by consumers in an actual retail situation. Equations for calculating the revenue differences are based on the consumer decision alternatives. The results of a consumer survey, combined with retail prices for the product lines in question, enable the financial effects of stockouts to be calculated.
THERE ARE MANY people — far too many people, in our opinion — who are ready to state, or maybe just to agree, that manufacturers in other countries have the edge on us, whether in…
Abstract
THERE ARE MANY people — far too many people, in our opinion — who are ready to state, or maybe just to agree, that manufacturers in other countries have the edge on us, whether in design or technology or even on price. On top of that, those same people, as a rule, are quick to condemn British workers as lazy, slow and ready to strike at the drop of a hat. We do not subscribe to any of this.