Assume that Triksi Co. makes footballs and is trying to determine the quantity of leather it should order every time an order is placed. The relevant information is as follows: I. Over the course of a year 12,000 square meters of leather will be needed, II. The cost of storing 1 square meter of leather is $3, and III. The cost of placing an order is $450 Show Computations and Explanations.
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Assume that Triksi Co. makes footballs and is trying to determine the quantity of leather it should order every time an order is placed. The relevant information is as follows:
I. Over the course of a year 12,000 square meters of leather will be needed,
II. The cost of storing 1 square meter of leather is $3, and
III. The cost of placing an order is $450
Show Computations and Explanations.
A. What is the EOQ? (Formula: 1,111)
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- The president of Value Filters became very enthusiastic about using EOQs to plan the sizes of her production runs, and instituted lot sizing based on EOQ values before she could properly estimate costs. For one particular filter line, which had an annual demand of 1,800 units per year and which was valued at $2.40 per unit, she assumed a holding cost based on a 30 percent annual interest rate and a setup cost of $100. Some time later, after the cost accounting department had time to perform an analysis, it found that the appropriate value of the interest rate was closer to 20 percent and the setup cost was about $40. What was the additional average annual cost of holding and setup incurred from the use of the wrong costs?Suppose that the EOQ is 100, average annual demand is1,000 units, and the lead time demand is a random variablehaving the distribution shown in Table 15.a What value of SLM1 corresponds to a reorder pointof 25?b If we wanted to attain a 95% value of SLM1, whatreorder point should we choose?c If we wanted an average of at most two stockouts peryear, what reorder point should we choose? Lead TimeDemand Probability10 16 15 14 20 14 25 112 30 14An organization manufactures supplies for landscaping companies which has an annual demand of 16,000. The cost of storing each unit is $2.5/year and $50 to make an order. Say the company has 300 days of annually, answer the following questions: a. What is the optimal order quantity? b. How many orders in a year? c. How many days between orders? d. How much is the total inventory cost?
- The annual demand, ordering cost, and the annual inventory carrying cost rate for a certain item are 600 units, Quantity 1 to 49 50 to 249 250 and up Price $5.00/unit $4.50/unit $ 4.10/unit $20/order and 30% of item price, respectively. (a) Assume the discounts applied to all the units in the order, what should the order quantity be in order to minimize the average annual cost? Also, show the minimal average annual cost. (b) Assume the discounts applied to the units are incremental, what should the order quantity be in order to minimize the average annual cost? Also, show the minimal average annual cost.A communication company is manufacturing mobile phones. Their annual demand is 5,000 mobile sets. They want to determine EOQ for a motherboard which has an annual holding cost (H) of $5/unit, and an ordering cost (S) of $60. They also want to calculate total cost (TC) and the reorder point (R) if the purchasing lead time is 4 days, assuming there are 300 working days per year. Find out: a. Economic Order quantity (EOQ) b. Total cost (TC) c. Reorder point (R)Problem 20-39 (Algo) CU, Incorporated (CUI), produces copper contacts that it uses in switches and relays. CUI needs to determine the order quantity, Q, to meet the annual demand at the lowest cost. The price of copper depends on the quantity ordered. Here are price-break and other data for the problem: Price of copper $ 0.84 per pound up to 2,499 pounds $ 0.83 per pound for orders between 2,500 and 4,999 pounds $ 0.81 per pound for orders 5,000 pounds or greater Annual demand 54,000 pounds per year Holding cost 25 percent per unit per year of the price of the copper Ordering cost $ 30 Which quantity should be ordered? Quantity_____________pounds
- Penalty costs can be assessed only against the number of units of demand that cannot be satisfied, or against the number of units weighted by the amount of time thatan order stays on the books. Consider the following history of supply and demandtransactions for a particular part:Number of Items Demand duringMonth Received MonthJanuary 200 520February 175 1,640March 750 670April 950 425May 500 280June 2,050 550Assume that starting inventory at the beginning of January is 480 units.a. Determine the ending inventory each month. Assume that excess demands areback-ordered.b. Assume that each time a unit is demanded that cannot be supplied immediately,a one-time charge of $10 is made. Determine the stock-out cost incurred duringthe six months (1) if excess demand at the end of each month is lost, and (2) ifexcess demand at the end of each month is back-ordered.c. Suppose that each stock-out costs $10 per unit per month that the demandremains unfilled. If demands are filled on a first-come,…please solve D,E and F (a) What is the expected jet fuel yearly average demand D? =4160 tons(b) Given D, find the order lot size Q that gives the economic order quantity (EOQ). =60.39 unit(c) Given the EOQ, what is the total inventory holding cost?= $1067695.2(d) Given the EOQ, what is the total inventory ordering cost?(e) Given the EOQ, what is the total annual inventory cost?(f) What is the time between orders in weeks?Manufacture MTN has orders for about 100,000 units of its product for the entire year and has the capability of producing 500 units per day. MTN operates its facility 250 days per year. Setting up the production costs $50. The per unit cost of producing the component is $1. The holding cost is estimated to be $2 per unit per year.a) What is the optimal production order quantity for this product?b) What is the total annual cost MTN incurs using this optimal production order quantity?
- 1 A company carries 10 items in stock, each with an economic order quantity of$20,000. Through a program of component standardization, the 10 items are reducedto 5. The total annual demand is the same, but the annual demand for each item istwice what it was before. In Chapter 10, we learned that the economic order quantityvaries as the square root of the annual demand. Since the annual demand for eachitem is now doubled, calculate:a. The new EOQ.b. The total average inventory before standardization.c. The total average inventory after standardization.Rick Jerz is attempting to perform an inventory analysison one of his most popular products. Annual demand for thisproduct is 5,000 units; ca rrying cost is $50 per unit per year; ordercosts for his company typically run nearly $30 per order; and leadtime averages I 0 days. (Assume 250 working days per year.)a) What is the economic order quantity?b) What is the average inventory?c) What is the optimal number of orders per year?d) What is the optimal number of working days between orders?e) What is the total annual inventory cost (carrying cost+ ordering cost)?t) What is the reorder poi nt?Malburn Construction Ltd. Manufactures and distributes window frames. The company uses 600,000metal strips in producing the frames for the year. Each strip cost $15, the storage cost is 10% of the costprice and $180 is required to make an order. Suppose Malburn Construction has acquired the necessary capital investments such that the metal stripcould be produce at its own factory at a rate of 800,000 metal strips per annum. Calculate:(i). the economic batch order quantity (ii). the number of runs per year. (iii). the length of the cycle in days (iv). the run time in days (v). the effective replenishment per year (vi). the peak inventory level (vii). the annual storage cost (viii).the annual ordering cost