please answer within 30 minutes. Assume you've been hired as a management trainee(MT) as a result of your excellent internperformance, specifically your MRP for the newproduct T. You've been tasked with overseeing theprocurement of a microchip MC unique part that willbe utilized widely in the company's new productlines.The annual demand for MC is anticipated to be200,000 units at a price of $100 per unit. Each unit'sannual holding cost is expected to be 2% of the unitprice, with an ordering cost of $3000 per order. Thecompany has an MC supplier in the United Statesthat offers a 1% discount on unit price for orders ofmore than 30,000 units with a 30-day lead time. Thesupplier and the company both work 300 days ayear.The EOQ for unit price = $100, The Total cost forunit price $100=Question:1(a) the number of orders placed per year for thebest order quantity.1(b) the reorder point (ROP) for the best orderquantity.1(c) Regard to the source of the special part ofmicrochip MC, what issues would you consider withreasons for your final recommendation?

Here, the best order quantity would be the EOQ quantity, The number of orders placed per year could…

Answered: 1(a) the number of orders placed per…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Similar questions

You are an audit senior of Sam & Partners and are in the process of reviewing the systems testingcompleted on the payroll cycle of Brown Industries Ltd, as well as preparing the audit programmes for the finalaudit.Brown operates several chemical processing factories across the country, it manufactures 24 hours a day, sevendays a week and employees work a standard shift of eight hours and are paid for hours worked at an hourly rate.Factory employees are paid weekly, with approximately 80% being paid by bank transfer and 20% in cash; thedifferent payment methods are due to employee preferences and Brown has no plans to change these methods.The administration and sales teams are paid monthly by bank transfer.Factory staff are each issued a sequentially numbered clock card which details their employee number andname. Employees swipe their cards at the beginning and end of the eight-hour shift and this process is notsupervised. During the shift employees are entitled to a 30-minute paid…
What is the relationship betweenthe process of standard cost variance analysis and management by exception?
1. How does the type of contract influence the format of the payment request? 4. What type of data is submitted to support a payment request on a lump sum contract? 5. What is retention? What is it used for?
Chapter 15 Explain the four common uses of comparisons that the manager will find helpful. Chapter 16 Explain the importance of assumptions when building a budget? Chapter 17 Explain the rationale for replacing existing equipment with new equipment.
An analyst has collected the following information regarding Gilligan Grocers: Earnings before interest and taxes (EBIT) = $700 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) = $850 million. Interest expense = $200 million. The corporate tax rate is 40 percent. Depreciation is the company’s only non-cash expense or revenue.What is the company’s net cash flow?
Under Staples’ “Easy Rebates” program, customers cansubmit most of their rebate applications online for productspurchased over the Internet, through the catalog, and inStaples stores. Customers may also submit several rebates atonce and receive emails about the status of their rebates atevery stage.27 Staples claims the rebates are processed muchfaster than those of other companies. Do you think the “EasyRebates” program will increase the number of rebates customers actually submit? Why or why not? Do you think otherfirms will follow with similar programs?
Grouping revenue by different classifications is an effective method for managers to use the information to plan and to control. What term is described as "tend to occur most often in special programs where volume is critical to survival of the program"?
As per the law, employers do not have to provide which of the following benefits? A. Canadian pension plan, Employment insurance B. Life Insurance, dental insurance, and eye glass coverage, C. Retirement plan, Profit sharing and tuition reimbursement D. Both B and C.
Comprehensive Problem 1Part 2 and Part 3: The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete part 1 before completing parts 2 and 3. Part 2: Using the attached spreadsheet, post the journal entries from part 1 to a ledger of four-column accounts. Part 3: Prepare an unadjusted trial balance. If an amount box does not require an entry, leave it blank.
Betty, the chief of nursing executive, need to make a decision about buying 340 new hospital beds for patient rooms. After she interviewed nurse managers at the units where the beds were going to be placed, Betty compiled her findings and decided to contact a well-known equipment company to obtain prices and a bid. No bids from other companies were obtained. The equipment company’s executive salesperson, Jim, discussed options at length with her and invited her and her significant other to an upcoming all-expense-paid, lavish junket at a five-star hotel in Hawaii to see demonstrations of the beds and experience a comprehensive sales program. Betty thought, “We badly need some relaxations and stress relief. Hawaii would be so much fun. Would it be wrong for us to go? If you were Betty, what would you do? Justify your answer with ethical framework: theory, approach or principle. Discuss the ethical principles at stake. What breaches are possible? Do you consider this situation a conflict…
Jetaway, a small manufacturer of replacement parts forthe aircraft industry, had always maintained a simplelayout—all like machines were located together. That waythe firm could be as flexible as possible in producing small amounts of the variety of parts its customers re-quired. No one questioned the production arrangement until Chris Munnelly started to work for the company.Chris was actually hired to upgrade Jetaway’s computer system. In the process of creating a database of part rout-ings, Chris began to see similarities in the parts pro-duced. A part routing matrix for nine of the most popular parts is shown below, along with a schematic of thefactory layout.Chris, who was already tired of being a programmer,decided to reorder the matrix and see what he couldfind. If he could identify distinct part families, he couldreorganize the placement of machines into the cells hehad been reading about in his business magazines.Maybe then someone would notice his managementpotential.Help…
13 Your financial adviser wants you to allow his firm to manage your funds using a robo-investment adviser—an artificial intelligence software product that will constantly monitor your account 24 × 7 and make investment decisions consistent with your financial goals and the level of risk with which you are comfortable. The services fee will be reduced from your current 1.25 percent per year of total assets to 0.75 percent per year. What questions would you ask to decide if robo-investing was right for you?

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS

1(a) the number of orders placed per year for the best order quantity. 1(b) the reorder point (ROP) for the best order quantity. 1(c) Regard to the source of the special part of microchip MC, what issues would you consider with reasons for your final recommendation?