[Solved] Assignment 217849

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Subject: Business    / Management
QuestionYou work for a manufacturer in the automotive industry. The company has been in existence for ten years and is not doing very well. You know if you can get a contract with Ford Motor Company things will greatly improve from a financial stand point. However, before the company can approach Ford about doing business you must take close look at your company and make improvements to reduce costs and improve quality. You know you are losing money and your outdated processes and management practices are contributing to your problems. You brought in a management consultant to assess you situation. The consultant made the following observations.Inventory – The consultant found that you are carrying a 3 month supply of your most expensive raw material. You have two weeks supply of the shop floor, 2 weeks in the main warehouse and 2 month supply in a rented off site warehouse. He analyzed the inventory costs associated with this raw material. Costs are as follows:Annual Usage – 16,000 units

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