Use the following figures (stated in millions of dollars)to compute the inventory
turnover and the days' inventory on hand: (Round answers to one decimal place).
a.Inventory turnover = ___________________
b.Days' inventory on hand = ___________________
Definitions:
Flexible Manufacturing Systems
Advanced production systems characterized by versatility in equipment and operations to efficiently produce varied products in small quantities.
Automated Guided Vehicles
Driverless vehicles equipped with sensors and processors, used in manufacturing and warehouses for material handling and transport tasks.
Material Handling
The act of transporting, securing, keeping, and supervising materials and goods from the point of manufacturing, through storage and distribution, to their consumption and eventual discard.
AGVs
Automated Guided Vehicles; robotic vehicles used for transporting materials around a manufacturing facility, warehouse, or other environments without direct human intervention.
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