Taking control of stock control

Article Abstract:

Stock control systems are based on two decisions: when to order and how much. Two systems for stock control are the fixed order quantity (FOQ) and the fixed order cycle (FOC). The FOQ system orders a predetermined fixed quantity at variable time intervals. The FOC system orders variable-sized replenishment orders at predetermined fixed intervals of time. The size of the order placed in both systems is determined by balancing the costs involved. In the FOQ system, when to order is determined by the re-order level. When stock falls below a specified level, a replenishment order is issued, requiring the maintenance of a continuous inventory record. The FOC system reviews and reorder stocks at fixed intervals based on a comparison of the stock held plus outstanding orders with a maximum stock figure. The FOQ system requires less stock than the FOC, but the FOC system is more convenient and practical.

Inventory control, Materials management

---

When costs rise but output doesn't

Article Abstract:

Tight profit margins combined with rising interest rates are leading to many UK farmers experiencing financial difficulties. Banks faced with farmers that have over-extended themselves increasing are worried about security and the need to assert control over agricultural assets. Banks' security is in the form of agricultural charges, which is regarded as a floating charge until crystallized into a fixed charge. Banks these situations should not appoint a receiver due to the considerable costs of running a farm. When faced with a troubled farmer for a client, it is better to arrange individual voluntary arrangements with the farmers' creditors while converting the bank's floating charge into a fixed one so that it will prevail over other creditors. Voluntary arrangements have the advantage of creating order among creditors who might be contemplating action against farmer.

United Kingdom, Agriculture, Accounting and auditing, Great Britain

---

Similar abstracts:

• Abstracts: A new culture for pearl. Stock control: the management consultant's view. IT assisted resource planning
• Abstracts: Restrictions on deductions for artists eased, but substantial limits remain
• Abstracts: Restrictions on deductions for artists eased, but substantial limits remain. part 2 Alternative method will substantiate business use of an automobile
• Abstracts: Pensions: new tests for the auditor. New wine in old bottles. The rise of the environmental audit
• Abstracts: ESOP opportunities knock. Management buy-outs after the boom. Engineering added value

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.