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The purpose of safety stock is to

The purpose of safety stock is to Correct Answer control the likelihood of a stockout due to the variability of demand during lead time

The purpose of safety stock is to control the likelihood of a stockout due to the variability of demand during lead time. Stockouts contribute to the direct loss of any type of business.

Related Questions

In the question below, are given a statement followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the following suggested courses of actions logically follow(s) for pursuing. Statement: Starting October, all new cars will have pedestrian safety features, including new design of the bonnet, to reduce impact on pedestrians during accidents. Advanced safety features are needed in all vehicles in India as vehicle safety cannot be confined to luxury vehicles only. Around 1.5 lakh people are killed in road accidents every year in the country, nearly 60% of them are pedestrians.  Courses of action: I. The government has set a target to reduce the number of road deaths by half in the next two years. The ministry of road transport and highways has been issuing new safety standards for the automobiles along with eliminating the black spots on national highways.  II. By next month, all new cars will have pedestrian safety feature, including new design of the bonnet, to reduce impact on pedestrians during accidents.  III. Ministry of road transport and Highways is planning to implement all safety features in vehicles with active support of vehicle manufacturers. Electronic stability control (ESC) and autonomous emergency braking (AEB) will be incorporated in new vehicles by 2022.
Consider the following two tables and four queries in SQL. Book (isbn, bname), Stock (isbn, copies) Query 1: SELECT B.isbn, S.copies FROM Book B INNER JOIN Stock S ON B.isbn = S.isbn;   Query 2: SELECT B.isbn, S.copies FROM Book B LEFT OUTER JOIN Stock S ON B.isbn = S.isbn; Query 3: SELECT B.isbn, S.copies FROM Book B RIGHT OUTER JOIN Stock S ON B.isbn = S.isbn;   Query 4: SELECT B.isbn, S.copies FROM Book B FULL OUTER JOIN Stock S ON B.isbn = S.isbn;   Which one of the queries above is certain to have an output that is a superset of the outputs of the other three queries?
Rearrange the given sentences in a meaningful order. A) Millions of lives are lost annually throughout the world due to road accidents, resulting in huge loss of finance and resources for individuals as well as for the nation.  B) Road Safety in today’s context is the most significant issue which relates to the safety of public on road. C) There is an urgent need to make people more aware about road safety precautions and why they matter so much.   D) Every year governments throughout the world spend billions on the treatment and welfare of accident victims and their rescue.  E) Strict laws must also be implemented to enforce road safety norms.
Examine the following statements :
i) Factor of safety for steel should be based on its yield stress,
ii) Factor of safety for steel should be based on its ultimate stress,
iii) Factor of safety for concrete should be based on its yield stress,
iv) Factor of safety for concrete should be based on its ultimate stress.
The correct statements are
The average stock value of three companies U, V and W is 545 billion. While the average stock value of three companies V, X and Y is 678 billion. Stock value of company V is 477 billion. What is the average stock value of U, V, W, X and Y?
A man sells Rs.5000, 12 % stock at 156 and uinvests the proceeds parity in 8 % stock at 90 and 9 % stock at 108. He hereby increases his income by Rs. 70. How much of the proceeds were invested in each stock?
If the average stock of a firm is Rs. 40,000 and its opening stock is Rs. 5,000 less than the closing stock, what would be the value of Opening Stock?
Given:
Stock turnover 6 times
Total Sales Rs. 3,00,000
Gross profit Ratio 20%
Closing stock is Rs. 4,000 more than the opening stock. The opening stock will be:
Consider the following statements
I. Money is stock while expenditure is flow
II. Money is stock while income is flow
III. Government debt is stock but interest payment is flow
IV. Credit by banks is flow and total deposits credit are stock
Which of the above statements are correct?
Given below are four jumbled sentences. Select the option that gives their correct order. There is an urgent need to make people more aware of road safety precautions and why they matter so much. Every year governments throughout the world spend billions on the treatment and welfare of accident victims and their rescue if they are lucky enough to make it alive. Road Safety in today’s context is the most significant issue which relates to the safety of the public on road. Millions of lives are lost annually throughout the world due to road accidents, resulting in huge loss of finance and resources for individuals as well as for the nation.