An average annual consumption of a material is 18,250 units at a price of ETB 36.50 per unit. The storage cost is 20% of an average inventory and the cost of placing an order is ETB 50. How much quantity is to be purchased at a times?
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- The chapter presented various approaches for the control of inventory investment. Discuss three additional approaches not included that might involve supply chain managers.A particular raw material is available to a company at three different prices, depending on the size of the order: Less than 100 pounds $ 20 per pound 100 pounds to 1,999 pounds $ 19 per pound 2,000 pounds or more $ 18 per pound The cost to place an order is $60. Annual demand is 4,200 units. Holding (or carrying) cost is 30 percent of the material price. What is the economic order quantity to buy each time, and its total cost? (Round your answers to the nearest whole number.)Al Fursan Inc. needs 310 kgs of a material per month (four weeks). It costs RO 10 to make and receive an order, and it takes 16 work days to receive it. The annual holding cost is 25 % of purchase price The price RO1 per kg. The company is operating 6 days per week What is the minimum annual total holding and ordering cost? Round-up to the nearest integer?
- A local electronic repair shop uses 12,500 units of mobile batteries each year. It costs RO 25 to place and receive an order. The cost of material is RO 16 per unit and carrying cost is 10% of the cost per unit. Calculate the Economic Order Quantity for the shop, number of orders and total inventory costs.The Melon Enterprise used to sell 175 bottles of 500ml vegetable cooking oil per month. The unit cost for a bottle of cooking oil is RM2.50 and the cost of placing an order has been estimated to be RM12.00. The store imposes an inventory carrying charge of 27% per year. The company have to wait 3 weeks’ time for the order to be delivered. Based on this information, calculate the following inventory decisions: (Hint: Provides your answers in two decimal points (a) Optimum order quantity, order frequency and annual total cost. (b) The store restructures its inventory system by ordering using an automation purchasing process, the ordering cost can be by cut 65%. Determine the new optimal order quantity, order frequency and annual inventory cost. Explain your answer.Nico's Manufacturing uses 2,400 units of a product per year on a continuous basis. The product carrying costs are $60 per year and ordering costs are $250 per order. It takes 20 days to receive a shipment after an order is placed and the firm requires a safety stock of 8 days of usage in inventory. 1. Calculate the economic order quantity (round up to the nearest whole unit) 2. Calculate the total cost per year to order and carry this item. 3. Their supplier has notified the company that if they increase their order quantity by 58 units they will give the company a discount. Calculate the dollar discount that the company will have to at least give to Nico's Manufacturing to be indifferent.
- A components manufacturer uses approximately 20,000 units annually of an item. They are used at a steady rate during the 250 workdays that the plant operates. The cost of each item is $7.00, and the annual carrying cost is $0.50 per unit per year. The ordering cost is $50. What is the economic order quantity?The Melon Enterprise used to sell 175 bottles of 500ml vegetable cooking oil per month. The unit cost for a bottle of cooking oil is RM2.50 and the cost of placing an order has been estimated to be RM12.00. The store imposes an inventory carrying charge of 27% per year. The company have to wait 3 weeks’ time for the order to be delivered. Based on this information, calculate the following inventory decisions: (Hint: Provides your answers in two decimal points) i) Optimum order quantity, order frequency and annual total ii) The store restructures its inventory system by ordering using an automation purchasing process, the ordering cost can be by cut 65%. Determine the new optimal order quantity, order frequency and annual inventory cost. Explain yourJoe Henry's machine shop uses 2,530 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the brackets: Annual demand 2,530 Holding cost per bracket per year $1.65 Order cost per order $18.25 Lead time 2 days Working days per year 250 Part 2 a) What is the EOQ? enter your response here units (round your response to two decimal places). Part 3 b) What is the average inventory if the EOQ is used? enter your response here units (round your response to two decimal places). What would be the annual inventory holding cost? $enter your response here (round your response to two decimal places). Part 4 c) Given the EOQ, how many orders will be made annually? enter your response here orders (round your response to two decimal places). What would be the annual order cost? $enter your response here (round…
- Demand for an item is 2,750 units per year. Each order placed costs $10; the annual cost to carry items in inventory is $5 each. In what quantities should the item be ordered? (Round your answer to the nearest whole number.) Optimal order quantity: UnitsManipulation Manufacturing Company uses 1,000 units of Chip annually in its production. Order costs consist of P10 for placing a long-distance call to make the order and P40 for delivering the order by truck to the company warehouse. Each Chip costs P100 and the carrying costs are estimated at 15.625% of the inventory cost. If the EOQ for Chip is 80 and the total ordering cost is P625. Compute for the Total Carrying Costs.Princeton GI Roofing Ltd wants to reduce its total inventory cost using the appropriate EOQ model. Currently, it orders 2170 thick gauge roofing sheets per batch. Annual demand is projected to be 43420 sheets. The ordering cost is Php 120. The average carrying cost is equivalent to 20% of the unit acquisition price of Php 400. Lead time is three days. Assume a 365 day year. d. Based on the appropriate EOQ model, what should be the reorder point? Express your answer up to the nearest integer or whole number. Exclude commas and any unit of measuree.How much would the total annual inventory cost be reduced based on the results of the EOQ Model? Express your answer up to the nearest PESOf.Express the computed cost reduction in the total annual inventory cost in terms of percentage up to the nearest integer or whole number. Exclude commas and the % sign.