1. William Beville's computer training school, in Richmond, stocks workbooks with the following characteristics: Demand D Ordering cost S Holding cost H = 19,500 units/year = $25/order = $4/unit/year a) Calculate the EOQ for the workbooks.
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- Economic order quantity (Q*) is 4,000 units. Annual demand (D) is 12,000 units. Find number of orders per year (N*) and time between orders (T*) in years. Group of answer choices N*=3 times per year, T* cannot be calculated N*=0.33 times per year, T*= 0.33 weeks N*=17.3 times per year, T*= 3 years N*=3 times per year, T*= 0.33 years N*=3 times per year, T*= 3 years3. Peter's order quantity for tocino is 5,000 kilos. Peter maintains a safety stock of Tocino at 500 kilos, and its order point is 1,500 kilos. What is the lead time, assuming daily usage is 50 kilos?1. Demand for walnut fudge ice cream at the Sweet Cream Dairy can be approximated by a normal distribution with a mean of 21 gallons per week and a standard deviation of 5 gallons per week. The new manager desires a service level of 90 percent. Lead time is 8 days, and the dairy is open seven days a week. (Hint: Work in terms of weeks.) If the ROP model is used, what is the appropriate safety stock level to achieve the desired service level? Round to two decimal places. Answer: _________
- The Metropolitan Book Company purchases paper from the Atlantic Paper Company. Metropolitanproduces magazines and paperbacks that require 1,215,000 pounds of paper per year. Thecost per order for the company is $1,200; the cost of holding 1 pound of paper in inventory is$0.08 per year. Determine The optimal time between ordersAyşe Çalışkan,owner of Computer Village, needs to determine an optimalordering policy for Porto-Pro computers,annual demand for the computers is 28 000 MUand carrying cost is 23 percent. Ayşe has estimated order costs to be 48 MU per order.What are the optimal MU per order? per unit cost is Rs 500Thomas' Bike Shop, with a 250 day working year, stocks a high-volume item. The average daily demand is 7p units, the lead time is 4 days, and sometimes may take up to 5 days. a. Calculate the re-order point without safety stock. b. Calculate the re-order point with safety stock.
- Develop a EOQ solution and calculate total relevant costs for the gross requirements in the following table*. Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 20 30 30 30 20 10 40 60 *Holding cost =$ 2.50/unit/week; setup cost =$ 150; lead time =1 week; beginning inventory =40. What is the average demand per week? with 2 decimal places): Calculate Economic Order Quantity (EOQ) Develop a EOQ solution (enter your responses as whole numbers). Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 20 30 30 30 20 10 40 60 Scheduled receipt…For Question 1 you are required to mannualy (without the use of excel) develop two MRP matrices: one with no lot sizing (you order what is required) and a lot seize equal to the EOQ. To determine the EOQ note that the inventory carrying cost is given as R1/unit/period. This means that you have to calculate the average demand per period and use this demand value in your EOQ calculation. This is then the order quantity to be used for the second MRP matrix.Problem 20-22 (Algo) Annual demand for a product is 16,120 units; weekly demand is 310 units with a standard deviation of 55 units. The cost of placing an order is $145, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.55 per unit. a. To provide a 90 percent service probability, what must the reorder point be? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not round intermediate calculations. Round "z" value to 2 decimal places and final answer to the nearest whole number.) Reorder point____________ units ? b. Suppose the production manager is told to reduce the safety stock of this item by 80 units. If this is done, what will the new service probability be? (Use Excel's NORMSDIST() function to find the correct probability for your computed Z-value. Round your answer to the nearest whole number.) Service probability___________%
- David's Delicatessen flies in Hebrew National salamis regularly to satisfy a growing demand for the salamis in Silicon Valley. The owner, David Gold, estimates that the demand for the salamis is pretty steady at 175 per month. The salamis cost Gold $1.85 each. The fixed cost of calling his brother in New York and having the salamis flown in is $200. It takes three weeks to receive an order. Gold's accountant, Irving Wu, recommendsan annual cost of capital of 22 percent, a cost of shelf space of 3 percent of the value of the item, and a cost of 2 percent of the value for taxes and insurance. How many salamis should Gold have on hand when he phones his brother to send another shipment?The fixed quantity version of EOQ compares and contrasts with the fixed interval version. Where will each of the scenarios be used?Thomas Smith is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. Thomas's fastest-moving inventory item has a daily demand of 24 units. The cost of each unit is £100, and the inventory carrying cost is £10 per unit per year. The average ordering cost is £30 per order. It takes about 5 daysfor an order to arrive, and there are 250 working days per year. To minimize the cost, how many units should be ordered each time an order is placed? What is the total annual inventory cost, including the cost of the units?