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Chapter 4: Q. 20-1PE (page 554)

What model is most appropriate for making a one-time purchase of an item?

Short Answer

Expert verified

Single-period model is the most appropriate for making a one-time purchase of an item.

Step by step solution

01

Definition of Single-period model

Single-periodinventory model is employed when an organization makes a one-time ordering decision or a one-time buying of stock. Though single-period inventory model is perishable and there's no replenishment of stock, the corporation should calculate the amount of items to purchase in order to minimize deficiency but also to avoid having leftover stock.

02

Explanation

The model that is most appropriate for making a one-time purchase of an item or product isthe Single-period model.. For instance, when an organization purchases shirts or flags to sell at a game between two teams, the corporate uses a single-period inventory model.

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