1) Store A orders on a weekly basis. Its weekly demand is 50 units with a standard deviation of five units. The holding cost is $10 per unit per week and a 0.99 in-stock probability is desired. What is Store A's average holding cost incurred each week for on-order inventory if lead time is five weeks?
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- colapop requires, an average, 2,700 tons of aluminum each week, with a standard deviation of 700 tons. The lead time to receive its orders is 8 weeks. The holding cost for one ton of aluminum for one week is $9. It operates with a 0.99 in-stock probability on average how many tons does it have on hand? if its average inventory was 9000 tons, what would be its average holding cost per week? Suppose its on-hand is 5375 tons, on average, what in stock probability does it offer to customers?At Dot Com, a large retailer of popular books, demand isconstant at 20,400 books per year. The cost of placing anorder to replenish stock is $35, and the annual cost of holdingis $6 per book. Stock is received 5 working days after an orderhas been placed. No backordering is allowed. Assume 250working days a year.a. What is Dot Com’s optimal order quantity?b. What is the optimal number of orders per year?c. What is the optimal interval (in working days) betweenorders?Millennium Liquors is a wholesaler of sparkling wines. Its most popular product is theFrench Bete Noire, which is shipped directly from France. Weekly demand is 45 cases.Millennium purchases each case for $120, there is a $300 fixed cost for each order(independent of the quantity ordered), and its annual holding cost is 25 percent.a. What order quantity minimizes Millennium’s annual ordering and holding costs?b. If Millennium chooses to order 300 cases each time, what is the sum of its annualordering and holding costs?c. If Millennium chooses to order 100 cases each time, what is the sum of the orderingand holding costs incurred by each case sold?d. If Millennium is restricted to ordering in multiples of 50 cases (e.g., 50, 100, 150, etc.),how many cases should it order to minimize its annual ordering and holding costs?e. Millennium is offered a 5 percent discount if it purchases at least 1000 cases. If itdecides to take advantage of this discount, what is the sum of its annual…
- Parasol Systems sells motherboards for personal computers. For quantities upthrough 25, the firm charges $350 per board; for quantities between 26 and 50,it charges $315 for each board purchased beyond 25; and it charges $285 eachfor the additional quantities over 50. A large communications firm expects torequire these motherboards for the next 10 years at a rate of at least 140 peryear. Order setup costs are $30 and holding costs are based on an 18 percentannual interest rate. What should be the size of the standing order?Hal Itosis is a candy wholesaler. He purchases cases of Altoids mints from a distributor at $20 each and pays a fixed $2,420 shipping and handling charge per order. The total lead time from the distributor is 3 weeks. Assume an annual rate of 30% for inventory carrying charges and 50 weeks per year. Weekly demand is normally distributed with a mean of 3,000 cases and a standard deviation of 124 cases. Assume full backorders. What is the optimal order quantity? Suppose that Hal Itosis' optimal service level is 99% What is the optimal reorder point?1. David and Beth Sheba run a health food store. Their top selling item is called Heavenly Kelp. The annual demand for this is 3200 units, and demand is constant throughout the year. The cost of placing an order is $100, while the holding cost per unit per year is $4. How many orders per year should be placed if they wish to minimize their total cost ? If you want to be eligible for partial credit, give an idea as to how you arrived at that number?
- Banana Inc. a Company that markets skin care products . The annual demond is 2400 units and ordering cost is 10 per order . The holding cost per year is 0.30 .Amount of the working days of the is 250 days in a year , Lead time of the order is 2 days . a. What is the optimal order size? b. What is the optimal number of orders per year? c. What is the optimal number of days between orders? d. What is the annual inventory cost? e. If the lead time were 2 days, what would be the reorder point? f. For what value of ordering cost would 1000 units of order size be optimal? g. Determine how often the firm should order. h. Determine the size of each order ı. At what price should the firm order?3. Skinner’s Fish Market buys fresh Boston bluefish daily for $4.20 per pound and sells it for $6 per pound. At the end of each business day, any remaining bluefish is sold to a producer of cat food for $3 per pound. Daily demand can be approximated by a normal distribution with a mean of 64 pounds and a standard deviation of 11 pounds. What is the optimal order quantity (stocking level)? Round your answer to 2 decimal places. Answer:_______A gourmet coffe e shop in downtown San Francisco is open 200 days a year and sell s an average of 75 pounds of Kona coffee bea ns a day. (Demand can be assumed to be distributed normally, with a standard deviation of 15 pounds per day.) After ordering (fixed cost = $16 per order), beans are a lways shipped from Hawaii within exactly 4 days. Per-pound annual holding costs for the beans are $3.a) What is the economic order quantity (EOQ) for Kona coffee beans? b) What are the total annual holding costs of stock for Kona co!Tee beans?c) What are the total annual ordering costs for Kona co!Tee beans?d) Assume that management has specified that no more than a 1% risk during stockout is acceptable. What should the reorder point (ROP) be?c) What is the safety stock needed to attain a 1% risk of stockout during lead time?f) What is the annual holding cost of maintaining the level of safety stock needed to support a I% risk?g) If management…
- Dave's Sporting Goods sells Mountain Mouse freeze-dried meals. Dave's uses a continuous review system to manage meal inventories. Suppose Mountain Mouse offers the following volume discounts to its customers: 1−950 meals: $6.50 per meal 951 or more meals: $4.50 per meal. Annual demand is 2,900 meals, and the cost to place an order is $23. Suppose the holding cost is $1.50 per meal per year. How many meals should Dave's order at a time? Part 2 Dave's Sporting Goods should order ______ meals at a time to take advantage of the lower cost per unit. (Enter your response rounded to the nearest whole number.)An electronics shop sells 6000 headphones in a year and the sales is relatively constantthroughout the year. These headphones are purchased for SR 20.00 each, and the leadtime is three days. The holding cost per headphone per year is 10% of the unit cost andthe ordering cost per order is SR 75. There are 300 working days per year. Calculate thefollowing:(i) What is the annual holding cost?(ii) In minimizing the cost, how many orders would be made each year?(iii) Given the EOQ, what is the total annual inventory cost (including purchase cost)?(iv) What is the time between orders?(v) What is the ROP? Write the answer on the computerA detergent manufacturer manages a plant for a major retail. The average monthly demand is 12,000 jugs of detergent. Each jug costs $(1.3) and is sold to the retailer at a wholesale price of $8. The manufacturer and the retailer use an annual holding cost of (29)%. For each order placed, the retailer incurs an ordering cost of $80. Manufacturer incurs the cost of transportation and loading which totals $2,000 per order shipped. a. To minimize its inventory-related costs, what lot size will be the best for the retailer? What is the annual inventory-related cost of the manufacturer and the retailer as a result of this policy? b. What lot size minimizes the inventory-related costs across both the manufacturer and the retailer? How much reduction in cost relative to (a) results from this policy? c. Design an all-unit quantity discount that results in the retailer ordering the quantity in (b).