A Television Manufacturer Would Like to Reduce Its Inventory

question 29

Essay

A television manufacturer would like to reduce its inventory. To this end, you are asked by the operations manager to assess its inventory level. You have the following information on average inventories from last year's financial statement:
Raw materials $1,500,000
Work-in-process $1,200,000
Finished goods $800,000
In addition, the cost of goods sold last year (50 weeks) was $20 million.
a. What is its total inventory (measured as weeks of supply)?
b. What is its inventory turnover?

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Definitions:

Binary Search

A search algorithm that finds the position of a target value within a sorted array by continuously dividing the search interval in half.

Key Comparisons

The process of comparing two keys (in sorting, searching, etc.) to determine their relative order or equality.

Iteration

Iteration in programming refers to the repetition of a block of statements or a process a specific number of times or until a condition is satisfied.

Sequential Search

Sequential Search is a straightforward search algorithm where each item in a list is checked sequentially until the target value is found or the list ends.