Calculate the average inventory
Q: hat would the conclusion be
A: Operations management is a branch of management concerned with the design, implementation, and…
Q: Forecasting method A has errors of 10, -15, 5 and 20. Forecasting method B has errors of -10, 4, 16…
A: Forecasting is a method of predicting the unknown. In other words, it is a step forward by looking…
Q: Year Bushels Simple Exp. Smoothing Forecast Trend Factor Adjusted Exp. Smoothing Forecast 1 48…
A: To calculate the simple exponential and adjusted forecasting values, we must calculate the alpha and…
Q: (a) Which constraints are binding? (b) Which constraints are non-binding? (c) What is the increase…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: If the annual demand is 14,000, the number of working days is 330 in a year, and the delivery lead…
A: As per guideline, expert can only solve first question ' s sub part. So please upload remaining part…
Q: A teller at a drive-up window at a bank had the following service times (in minutes) for 20 randomly…
A: Find the Given details below: Samples Observations 1 2 3 4 1 4.5 4.6 4.5 4.7 2 4.2 4.5 4.6…
Q: how does that performance compare with that of the industry? a) What was Organic Grocers' inventory…
A: Given : Cost of goods sold (COGS) = 10960000 Average inventory (I) = 991710 Inventory turnover of…
Q: Part (a) Find the new TC- Part (c) Determine the next improved plan. To Valley (1) FROM Madison…
A: The transportation model is used to calculate the minimum cost of the route by selecting different…
Q: Project Quality Management addresses the management of project deliverables of the project, it…
A: The practice of continuously assessing the integrity of all operations and implementing remedial…
Q: A 20 16 B 11 # D E F 14 23 14 19 H 14 10 11 K 18 23 21 M Note: This question requires Solver.…
A: Operation management is performed in each manufacturing organization. It all deals with the…
Q: Describe a service experience where operations related issues resulted in an service product that…
A: In an organization, no department can work in isolation to other departments. Every department is…
Q: The SAVE-IT COMPANY operates a reclamation center that collects four types of solid waste materials…
A: Grade Cost per pound ($) Selling price per pound ($) Profit ($) (Selling price - Cost) A 3 8.5…
Q: QUESTION 2 1. Mr. Jack is in the process of expanding his manufacturing business. He decided to open…
A: Total cost = fixed cost + (variable cost per unit X total units) There are two ways to find an…
Q: A regional bank training center has the physical ability to handle 1,300 participants. However,…
A: Given: Design capacity (D)= 1300 Effective capacity (E) =1100 Actual capacity (A) = 990
Q: Use a graphing calculator to create a scatter plot and find the line of best fit and the correlation…
A: Ans) We will use excel as a graphing calculator to plot scatter plot and line of best fit and…
Q: What is the shortest path and what is the shortest possible time to travel from A to Z? (Round your…
A: A critical path network diagram is a system-level representation of the tasks or activities that…
Q: Provide strategies the manufacturers can use to counteract conflict in supply chain management.
A: Culture, technology, worldwide operations, cost-cutting initiatives, change management, lack of…
Q: Kamal Fatehl production manager of Kennesaw Manufacturing, finds his profit at $28,600 (as shown in…
A: Find the Calculations below: The decrease percentage is 5.9% The new supply chain cost is $ 159000…
Q: A plastic parts supplier produces two types of plastic parts used for electronics. Type 1 requires…
A: Assume, Total number of units, of type-1 = X (Quantity) Total number of units, of type-2 = Y…
Q: Find the multifactor productivity of Produces 10,000 units a day if Labor Costs: 10 people working a…
A: Multifactor productivity is the proportion between input and output based on the consideration of…
Q: Peter Ittig's department store, Ittig Brothers, is Amherst's largest independent clothier. The The…
A: A process control chart is a type of statistical graph that monitors the quality of a process over…
Q: a. If you start the project immediately, when will it be finished? The critical path is path and the…
A: Critical path is a term that is used in project management. It refers to the tasks that have to be…
Q: 9- All of these are key areas of a typical spend analysis except a-Spend by division, department, or…
A: Spend Analysis is related to Strategic Planning and Execution. It is one of the processes carried…
Q: UCLp = of a sample size of 500, the upper and lower (enter your response as a number between 0 and…
A: It is given that defect rate is 4.50 % or 0.045. So, p-bar = 0.045 Sample Size (n) = 500z = 3…
Q: Evaluate the effectiveness of a Agile/Scrum approach compared to a plan-based approach based on the…
A: The concepts of agile and scrum are not so different from each other. Agile is a concept that helps…
Q: What does it mean for something to be improved inside a system?
A: You may create the life you want by adamantly mending the systems in your life and putting the…
Q: Using trend projection, develop a formula to predict sales for years 11 and 12. You have to show all…
A: The given data stated below, Year TV Sales 1 150 2 300 3 480 4 600 5 630 6 640 7…
Q: A big box store sells a lawn mower. Annual demand for the lawn mower is 600 units. The ordering…
A: Annual Demand = D = 600 units Ordering cost per order = S = $20 Annual Holding Cost per unit = H =…
Q: Which of the following is the first phase in the design of a global supply chain network? a. Define…
A: Global supply chains are structures that are used to purchase & supply services and goods…
Q: Why International Supply Chains are much more complex than simple domestic supply chains? List four…
A: International Supply are more complex than domestic supply chains because the risks of domestic…
Q: A payoff table is given as s1 s2 s3 d1 250 450 500 d2 300 -250 900 d3 400 500…
A: Expected value method EV=(s1×p1)+(s2×p2)+(s3×p3) Conservative decision-maker A conservative…
Q: QUESTION 1 The table below shows the sales figures for a brand of shoe over the last 12 months.…
A: Formulae used: The simple moving Average Forecast: Moving Average Forecast = (At-1+ At-2 + At-3…
Q: Given the following data, FC = K10,000; Selling Price =K10; VC=K5; demand = 1000 units. Draw a…
A: As per the instruction, the first question is taken for answering purposes, all the subparts of the…
Q: CRISIS IT In May 2007, Frontier Airlines Holdings hired Gerry Coady as chief information officer…
A: In the project selection process, the projects are selected based on different criteria. A specific…
Q: A crew of mechanics at the Highway Department garage repair vehicles that break down at an…
A: Given that, λ = 15 Vehicles per hour. Average μ = 3 vehicles every 10 minutes 3*60/10=3*6 = 18…
Q: integration and how well do the Woolworths internal functions integrate. Make use of practical…
A: The phrase "internal supply chain" describes the series of business operations that culminate in the…
Q: It takes an operator 1.70 minute to service a machine and 0.2 minute to walk to the next machine.…
A: From the given description, the following information can be extracted. Service time (l) = 1.70…
Q: With reference to the case study, discuss the main reasons that have been influential in…
A: Operation management is performed in each manufacturing organization. It all deals with the…
Q: a. What is the expected completion time of the project? The expected completion time is 19 days.…
A: Critical path is the path that take the longest time to complete the whole project of an…
Q: How many tyres should MWV order at once? (Hint: Consider a 12-month timeframe and recall that each…
A: Annual Demand (D) = 450 * 12 * 2 = 10,800 tyresPrice (P) = R 400Carrying Cost (C) = 15% of P = R…
Q: Draw a simple bill-of-materials (BOM) for a smart phone given the following requirements: (a)…
A: The components in a bill of materials for a smartphone are listed below. Smartphone Components…
Q: Gator Beach Marts, a chain of convenience grocery stores in the Fort Lauderdale area, has store…
A: Remember all these formulas: High low Method Variable Cost = (Highest Activity Cost-Lowest Activity…
Q: Explain the use of a flowchart in operational design.
A: Operational design is the detailed design for the organizational operations, and is helpful for the…
Q: What is the difference between a progress report and a status report? Give examples of both
A: The main aim of a progress report is to show the tasks accomplished by a project team during a…
Q: Torrance Refinery produces approximately 23.1 Million barrels of gasoline per year. A California…
A: Given data: Production per year (p)= 23.1 Million barrel Demand per year (D) = 5.3 Million barrels…
Q: Read the case study below and answer ALL the questions that follow. CRISIS IT In May 2007, Frontier…
A: A stakeholder analysis - is the method for determining the individuals that involve prior to the…
Q: a. Explain any two process technologies for materials. b. Discuss any three factors that will help…
A: a. Project technology is one of the process ideas and is a subset of process technology since it may…
Q: Describe how MRP concepts could be used for the following service operations: a. Hotel
A: The term MRP is an acronym for Manufacturing Resource Planning. The MRP system was developed in the…
Q: for materials. b. Discuss any three factors that will help to determine the type of production…
A: Process technology refers to the tools, machinery, and apparatus used in the production and/or…
Q: Scenario # 2: Compensation and Benefits Administration You just finished analysing information for…
A: Compensation and benefits can be a reason for dissatisfaction or satisfaction. It is an important…
The following information relates to Unique Ltd for the year 2020:
Annual Demand 408,375 units
Annual cost of Holding £1.50
Annual cost of placing an order £ 500
Required:
(ii) Calculate the average inventory
Step by step
Solved in 3 steps
- Weekly Average Demand 110 Standard deviation of (weekly) demand 30 Setup cost ($) 1400 Lead time (in weeks) 2 Procurement cost ($) 200 Holding cost /unit/week ($) 3 You are given the demand and inventory related information about a grocery store’s product in the table. The store is open for 46 weeks in a year. What is the reorder point if it wants to achieve a service level of 97%? (Do not round your intermediate calculations. Round your final answers to the nearest whole number.Joe 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…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 your
- Petromax Enterprises uses a continuous review inventorycontrol system for one of its SKUs. The following informationis available on the item. The firm operates 50 weeks in a year.Demand = 50,000 units>yearOrdering cost = $35>orderHolding cost = $2>unit>yearAverage lead time = 3 weeksStandard deviation of weekly demand = 125 unitsa. What is the economic order quantity for this item?b. If Petromax wants to provide a 90 percent cycle-servicelevel, what should be the safety stock and the reorder point?The Meeras Cafeteria at the College of Economics and Political Science serves cooked food including shawarma and hamburgers, as well different types of drinks and packaged food products 1/ What type of inventory system would you suggest for the Meeras Cafeteria - Continuouis Review or Periodic Review? What is the reason for your answer. 2) To implement the system you suggest, what data will you need, and how do you obtain this data. 3) Once you have identified the needed data, explain how you can implement the inventory management system. Indicate a recommended service level, how you will decide the order quantities and how inventory will be monitored.Inventory Management Williams & Sons last year reported sales of $39 million, cost of goods sold (COGS) of $30 million, and an inventory turnover ratio of 5. The company is now adopting a new inventory system. If the new system is able to reduce the firm's inventory level and increase the firm's inventory turnover ratio to 6 while maintaining the same level of sales and COGS, how much cash will be freed up? Do not round intermediate calculations. Enter your answer in dollars. For example, an answer of $1.23 million should be entered as 1,230,000,000. Round your answer to the nearest dollar.
- Scotch Pub bar sells Speylachie high-end whiskey among other beverages. The demand for Speylachie is normally distributed. The inventory related information at Scotch Pub is as follows: Average Annual Demand = 2,500 liters Standard deviation of weekly demand = 22 liters One-liter bottle cost = bought at £112.50 per bottle from a brewery in Scotland Ordering cost = £144.00 per order Lead time = 3 weeks Annual inventory-holding cost estimate = 4% of the bottle cost Required service level = 95% Scotch Pub works 50 weeks a year. Note: The approximate z values are: for 0.9 ≈ 1.28, for 0.92 ≈ 1.405, for 0.95 ≈ 1.645, for 0.98 ≈ 2.05. Suppose the bar management practices the fixed-PERIOD ordering system with the review period equal to the “economic time interval”. Answer the following questions: (i) When do they place an order? (ii) If at the time of review there are 333 bottles are available in the stock, how many bottles of Speylachie they will order? (iii) What is the…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 economic order quantityJill's Job Shop buys two parts (Tegdiws and Widgets) for use in its production system from two different suppliers. The parts are needed throughout the entire 52-week year. Tegdiws are used at a relatively constant rate and are ordered whenever the remaining quantity drops to the reorder level. Widgets are ordered from a supplier who stops by every two weeks. Data for both products are as follows: ITEM TEGDIW WIDGET Annual demand 7,000 10,000 Holding cost (% of item cost) 30 % 30 % Setup or order cost $ 190.00 $ 10.00 Lead time 7 weeks 2 week Safety stock 45 units 9 units Item cost $ 5 $ 6 a. What is the reorder quantity and reorder point for Tegdiws? (Round your answers to the nearest whole number.) b. What is the inventory control system for Widgets? (Round your answer to the nearest whole number.) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer…
- Annual demand for a product is 13,000 units; weekly demand is 250 units with a standard deviation of 40 units. The cost of placing an order is $100, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.65 per unit. To provide a 98 percent service probability, what must the reorder point be? Note: Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number. Suppose the production manager is told to reduce the safety stock of this item by 100 units. If this is done, what will the new service probability be? Note: Use Excel's NORM.S.DIST() function to find the correct probability for your computed z value. Round z value to 2 decimal places and final answer to the nearest whole percent.Seah Corporation presents the following data: Usage is 400 units per month, cost per order is P20, and carrying cost per unit is P6. Given these data, answer the following questions: (A) What is the economic order quantity? (B) How many orders are required each month? CHOICES A) 32 and (B) 6 (A) 32 and (B) 8 (A) 52 and (B) 6 (A) 52 and (B) 8 (A) 62 and (B) 10Describe the inventory models of stochastics? What is the use of when?