{"id":3089,"date":"2023-02-20T02:57:08","date_gmt":"2023-02-20T02:57:08","guid":{"rendered":"https:\/\/www.goodacademic.com\/blog\/questions\/purchase-and-inventory\/"},"modified":"2023-02-20T02:57:08","modified_gmt":"2023-02-20T02:57:08","slug":"purchase-and-inventory","status":"publish","type":"questions","link":"https:\/\/www.goodacademic.com\/blog\/questions\/purchase-and-inventory\/","title":{"rendered":"purchase and inventory"},"content":{"rendered":"
\n

Welcome aboard! We are a purchasing team and you are our newest buyer. As a new team <\/span>
member you have been instructed to establish an understanding for a new product we are looking to <\/span>
provide to our customers.<\/span>
We do not manufacturer \u00e2\u20ac\u201c all of our items have a 30 day lead time and we purchase the items from a <\/span>
US supplier. We buy finished goods only and warehouse our products to provide excellent customer <\/span>
service.<\/span>
<\/strong><\/span><\/p>\n

Research a product (THE PRODUCT IS AN ELEVATOR SENSOR) and answer the following:
<\/strong><\/span><\/p>\n

A. <\/strong><\/span>Product<\/span><\/p>\n

1)<\/span> Provide a complete description of your product.<\/span>
a.<\/span> Include the brand of your product and why is brand important?<\/span>
b.<\/span> Include components <\/span>
c.<\/span> How difficult do you feel this product is to manufacture \u00e2\u20ac\u201c why? How does this affect your cost?<\/span>
2)<\/span> What purpose does your product serve? <\/span>
3)<\/span> Provide variations of your product.<\/span>
4)<\/span> Who is the end user for this product?<\/span>
5)<\/span> What is the retail price range of your item? (Provide three specific examples)<\/span><\/span><\/p>\n

B<\/strong>.<\/span> Competition
1)<\/span> Provide three other brands (if available) for this product.<\/span>
2)<\/span> What do the other brands offer or not offer?<\/span>
3)<\/span> Where else can your item be purchased? Provide at least \u00e2\u20ac\u01532\u00e2\u20ac\ufffd competitors.<\/span>
4)<\/span> What do these competitors offer that would bring a consumer in to buy this item?<\/span>
5)<\/span> What s the retail price range for the competition? (Provide three specific examples)<\/span>

<\/span><\/p>\n

C. <\/strong>Forecasting and Seasonality
1)<\/span> Does this item have seasonality \u00e2\u20ac\u201c explain? <\/span>
2)<\/span> How important is safety stock to your product and why?<\/span>

<\/span><\/p>\n

D. <\/strong>Storing the Product<\/span>
1)<\/span> How is your item packaged \u00e2\u20ac\u201c case pack? (for example \u00e2\u20ac\u201c 20 packs of 10 pens = one case)<\/span>
a.<\/span> For the \u00e2\u20ac\u0153buyer\u00e2\u20ac\ufffd<\/span>
b.<\/span> For the end consumer?<\/span>
c.<\/span> Considering the way your item is packaged \u00e2\u20ac\u201c What do you feel a reasonable minimum <\/span>
order quantity would be on your item? Why?<\/span>
2)<\/span> How does your item impact warehouse storage space?<\/span><\/p>\n

a.<\/span>Does your item require any \u00e2\u20ac\u0153special\u00e2\u20ac\ufffd inventory managing \u00e2\u20ac\u201c for example refrigeration or handling by equipment?<\/span><\/p>\n

b.<\/span>Does your item take up a lot of warehouse space? Explain.<\/span><\/p>\n

3)<\/span> Where do you feel your product is in the product life cycle (Development, Introduction, Growth, <\/span>
Maturity, Saturation, or Decline) – explain? How does your knowledge of the product life cycle <\/span>
make you a better buyer or does it? Does your product life cycle knowledge impact inventory <\/span>
levels? <\/span>

<\/span><\/p>\n

E<\/strong>.<\/span> Modes of Transportation<\/span>
1)<\/span> There are five modes of transportation (Road, Rail, Water, Air, and Pipeline). Which mode(s) <\/span>
of transportation do you feel your product will use during its manufacturing, storing, and <\/span>
delivery to the end consumer? Why is this information important to you as a purchasing and <\/span>
inventory professional?<\/span>

<\/span><\/p>\n

F.<\/strong><\/span> Quality & the Environment<\/span>
1)<\/span> What does your item provide as far as warranty\/quality? Why is this important?<\/span>
2)<\/span> Does your item state anything about being environmentally responsible? Why is this <\/span>
important?<\/span>

<\/span><\/p>\n

G<\/strong>.<\/span> Summary<\/span>
Provide a final summary explaining how this project was or was not beneficial to you.<\/span><\/p>\n


Required \u00e2\u20ac\u201c minimum THREE sources \u00e2\u20ac\u201c and 3 to 10 pages in length (NOT including the cover page and bibliography)<\/span><\/p>\n

<\/span><\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Welcome aboard! We are a purchasing team and you are our newest buyer. As a new team member you have been instructed to establish an understanding for a new product we are looking to provide to our customers.We do not manufacturer \u00e2\u20ac\u201c all of our items have a 30 day lead time and we purchase […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[646],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/3089"}],"collection":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/comments?post=3089"}],"version-history":[{"count":0,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/3089\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/media?parent=3089"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/disciplines?post=3089"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/paper_types?post=3089"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/tagged?post=3089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}