Calculate the annual economic order quantity from the information provided below.
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Calculate the annual economic order quantity from the information provided below.
INFORMATION
GM Electronics expects to sell 800 alarm systems each month of 2022 at R4 000 each. The cost price of each
alarm system is R2 000. The inventory holding cost of an alarm system is 1% of the unit cost price. The cost of
placing an order for the alarm systems is estimated at R60.
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- Calculate the annual economic order quantity from the information provided below.INFORMATIONGM Electronics expects to sell 800 alarm systems each month of 2022 at R4 000 each. The cost price of each alarm system is R2 000. The inventory holding cost of an alarm system is 1% of the unit cost price. The cost of placing an order for the alarm systems is estimated at R60.GM Electronics expects to sell 800 alarm systems each month of 2022 at R4 000 each. The cost price of eachalarm system is R2 000. The inventory holding cost of an alarm system is 1% of the unit cost price. The cost ofplacing an order for the alarm systems is estimated at R60. Calculate the annual economic order quantity from the information provided below.Grand Styles Furniture Store is overstocked in (has excess inventory of) one type of chair. Based on the Price-Demand Relationship, what advice would you provide to the store manager to deal with this problem? Fancy Fashions sells jeans for $59 and sweaters for $39. To increase sales of jeans and sweaters, Fancy Fashions promotes this Product Price Bundle: “Buy a pair of jeans and a sweater for $98”. Will this Product Price Bundle will work well to increase the sales of jeans and sweaters?
- The annual demand for an item is 10,000 units. The cost to process an order is $75 and the annual inventory holding cost is 20% of item cost. What is the optimal order quantity, given the following price breaks for purchasing the item? What price should the firm pay per unit? What is the total annual cost at the optimal behavior? Quantity Price 1 – 9 $2.95 per unit 10 – 999 $2.50 per unit 1,000 – 4,999 $2.30 per unit 5,000 or more $1.85 per unitE - Max uses the basic EOQ model to determine the order quantity . They used to buy electronics from a Korean supplier in Dubai with a lead - time of 5 days . Recently , the supplier has decided to close the warehouse in Dubai and deliver all items from Korea directly to customers in Oman with a lead time of 10 days . Under this situation , the economic order quantity will (Q^ * ) 1)double 2)None of these 3)increase , but not double 4)decrease by a factor of two 5)do remain the sameNative Customs sells two popular styles of hand-sewn footwear: a sandal and a moccasin. The cost to make a pair of sandals is $18, and the cost to make a pair of moccasins is $24. The demand for these two items is sensitive to the price, and historical data indicate that the monthly demands are given by S = 360 − 9P1 and M = 400 − 20P2, where S = demand for sandals (in pairs), M = demand for moccasins (in pairs), P1 = price for a pair of sandals, and P2 = price for a pair of moccasins. To remain competitive, Native Customs must limit the price (per pair) to no more than $60 and $75 for its sandals and moccasins, respectively. Formulate this nonlinear programming problem to find the optimal production quantities and prices for sandals and moccasins that maximize total monthly profit.
- The BeeGees' sells guitars for P6,999 each. The store consistently sells 450 guitars every year. The fixed cost to order more guitars is P680 and the carrying cost is P120. What is the economic order quantity?BIKO is a bike retailer located in the outskirts of Paris. BIKO purchases bikes from PMX in orders of 250 bikes which is the current economic order quantity. PMX is now offering the following bulk discounts to its customers: 2% discount on orders above 200 units 4% discount on orders above 500 units 6% discount on orders above 600 units BIKO is wondering if the EOQ model is still the most economical and whether increasing the order size would actually be more beneficial. Following information is relevant to forming the decision: Annual demand is 5000 units Ordering cost is $100 per order Annual holding cost is comprised of the following: 5% insurance premium for the average inventory held during the year calculated using the net purchase price Warehousing cost of $6 per unit Purchase price is $200 per unit before discount (Hint: We need to compare the total inventory cost of the order quantities at the various discount levels with that of the economic order quantity)The following data is extracted from the books of Gulf company, Fixed cost OMR 12.000. Selling price OMR.8 per unit and variable cost OMR 2 per unit. How many units will be sold in excess of the breakeven point if Gulf Company wishes to make a profit of OMR 6.000 ? a. 1,000 units b. 2,000 units C. 1.500 units d. 3.000 units
- Exercise 2: The demand per year (D) for product X is 12,100 units. The costs of placing an order (S) are $4.50. The unit cost (C) of the item is $25.00. The maintenance cost (H) per unit per year is 30% of the item's cost. 1. Use the economic order quantity (EOQ) model to determine: *Optimal quantity to order* The expected number of orders*Optimal time between orders*The total annual cost of maintaining that optimal amountNOTE: Show calculations of how you arrived at each amount 2. Answer, what are the potential benefits of using EOQ analysis for inventory management? How can you help businesses strike a balance between inventory holding costs and ordering costs?ANT Infra orders two kinds of precast items: A and B for use in its projects from two different suppliers. The precasts are needed throughout the entire 52-week year. Precast A are used at a relatively constant rate and are ordered whenever the remaining quantity drops to the reorder level. While, precast B is ordered from a supplier who delivers by every three weeks. Data for both precast items are as follows:Item Precast A Precast BAnnual demand 10,000 5,000Holding cost (% of item cost)20% 20%Order cost $150 $25Lead time 4 weeks 1 weekSafety stock 55 units 5 unitsItem cost $10.00 $2.00 a. Employ Q system for precast A and calculate the EOQ, the reorder point, total inventory cost? b. Employ P system for precast B and estimate the target level inventory and total inventory cost?Blade Breakers Ltd. manufactures blades. The following are the details of their operation during 2020: Average monthly market demand 2,000 blades Ordering costs $ 200 per order Inventory carrying costs 20% per annum Cost of lamps $ 1000 per blade Normal usage 100 blades per week Minimum usage 50 blades per week Maximum usage 200 blades per week Lead time to supply 4 - 6 weeks Compute: Economic order quantity. Maximum level of stock. Minimum level of stock. Re-order level of stock. What tradeoffs in costs are involved in computing the Economic Order Quantity?