Calculate total annual inventory cost.
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- Calculate total annual inventory cost.
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- JYP Store purchases shirts printed with GOT7 name and logo from a vendor. The vendor sells the shirts to the store for RM40 each. The cost to the store for placing an order is RM110, and the annual carrying cost is 20% of the cost of the shirt. Jackson, the store manager, estimates that 1,600 shirts will be sold during the year. The vendor has offered the store the following volume discount in Table 3. [Kedai JYP membeli baju yang di cetak dengan nama dan logo GOT7 dari pembekal. Pembekal menjual baju kepada kedai dengan harga RM40 sehelai. Kos untuk membuat tempahan ialah RM110, dan kos memegang tahunan ialah 20% dari harga kos sehelai baju. Jackson, pengurus kedai, menjangkakan sebanyak 1,600 baju akan dijual setahun. Pembekal menawarkan kepada kedai berdasarkan Jadual 3.] Table 3: Discount schedule [Jadual 3: Jadual diskaun] ORDER SIZE DISCOUNT 1 – 299 0% 300 – 500 2% 501 and more 4% Calculate total annual inventory cost. [Hitungkan kos inventori…JYP Store purchases shirts printed with GOT7 name and logo from a vendor. The vendor sells the shirts to the store for RM40 each. The cost to the store for placing an order is RM110, and the annual carrying cost is 20% of the cost of the shirt. Jackson, the store manager, estimates that 1,600 shirts will be sold during the year. The vendor has offered the store the following volume discount in Table 3. [Kedai JYP membeli baju yang di cetak dengan nama dan logo GOT7 dari pembekal. Pembekal menjual baju kepada kedai dengan harga RM40 sehelai. Kos untuk membuat tempahan ialah RM110, dan kos memegang tahunan ialah 20% dari harga kos sehelai baju. Jackson, pengurus kedai, menjangkakan sebanyak 1,600 baju akan dijual setahun. Pembekal menawarkan kepada kedai berdasarkan Jadual 3.] Table 3: Discount schedule [Jadual 3: Jadual diskaun] ORDER SIZE DISCOUNT 1 – 299 0% 300 – 500 2% 501 and more 4% Calculate optimal order quantity based on the quantity discount…Happy Pet, Inc., is a large pet store located in LongBeach Mall. Although the store specializes in dogs, it a lso sellsfish, turtle, and bird supplies. The Everlast Leader, a leather leadfor dogs, costs Happy Pet $7 each. There is an annual demand for6,000 Everlast Leaders. The manager, Stephan Wagner, has determinedthat the ordering cost is $20 per order and the carrying cost,as a percentage of unit cost, is 15%. Happy Pet is now consideringa new supplier of Everlast Leaders. Each lead would cost only$6.65, but, in order to get this discount, Happy Pet would have tobuy shipments of 3,000 at a time. Should Happy Pet use the newsupplier and take this discount for quantity buying?
- 1. The KIKO LTDA company manufactures sporting goods. Its monthly demand is 1000 units and each week it produces 923 units. The cost of each production run is $ 100 and the holding of each sporting item is 86 cents per week. The company works 250 business days in the year and the supplies it requires have a delivery time of 6 business days. With this information, it is requested to establish inventory policies that answer the following questions: a. The economic quantity to be produced. b. The reorder point c. The total annual cost of inventory d. The cycle time e. Number of runs per year f. Duration of a production run plz answer 'e' and 'f' part1. The KIKO LTDA company manufactures sporting goods. Its monthly demand is 1000 units and each week it produces 923 units. The cost of each production run is $ 100 and the holding of each sporting item is 86 cents per week. The company works 250 business days in the year and the supplies it requires have a delivery time of 6 business days. With this information, it is requested to establish inventory policies that answer the following questions: a. The economic quantity to be produced. b. The reorder point c. The total annual cost of inventory d. The cycle time e. Number of runs per year f. Duration of a production runA 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)
- BERNARDS COMPANY LTD is a PRODUCER of fruit juices. The company has an annual demand of 150,000 barrels. The barrels cost $30 each. Fresh supplies can be obtained immediately, but ordering cost and the cost of carriage inwards are $400 per order. The annual cost of holding one barrel in inventory is estimated to be $3.50. The economic order quantity has been calculated to be 10,500 barrels. The suppliers introduce a quantity discount of 5% on orders of at least 12,000 barrels and 5.5% on orders of at least 15,000 barrels. You are required to: Determine whether the least cost order quantity is still the EOQ of 10,500 barrels.A specialty coffeehouse sells Colombian coffee at a fairly steady rate of 280 poundsannually. The beans are purchased from a local supplier for $2.40 per pound. The coffeehouse estimates that it costs $45 in paperwork and labor to place an order for thecoffee, and holding costs are based on a 20 percent annual interest rate.d. If replenishment lead time is three weeks, determine the reorder level based onthe on-hand inventory.In many respects, the food inventory decision for eachCelebrity cruise matches the single-period inventory modeldescribed in this chapter. Consider the decision about chicken.Suppose that Celebrity purchases chicken in bulk for $0.80 perpound, and any chicken left over after a cruise is donated tolocal food banks. Management estimates that a shortage penaltyof $1.00 per pound is incurred due to lost customer goodwillfrom unsatisfied demand. If chicken demand for a 7-daycruise is normally distributed with a mean of 3,000 pounds anda standard deviation of 200 pounds, how many pounds shouldbe brought onto the ship?
- The Olde Town Microbrewery makes Townside beer,which it bottles and sells in its adjoining restaurant and bythe case. It costs $1700 to set up, brew, and bottle a batchof the beer. The annual cost to store the beer in inventory is$1.25 per bottle. The annual demand for the beer is 21,000bottles and the brewery has the capacity to produce 30,000bottles annually.a. Determine the optimal order quantity, total annual inventory cost, the number of production runs per year, andthe maximum inventory level.b. If the microbrewery has only enough storage space tohold a maximum of 2500 bottles of beer in inventory,how will that affect total inventory costs?DETERMINING INVENTORY MODEL HGD wants to be the reseller of FSYHILD company. The requirement of HGD is 2,500 per month. FSYHILD offered HGD the following quantity 0 to 999 no discount, 1000 to 1,999 4% AND 2000 AND ABOVE is 5%. The unit price of the panel is P20.00. P19.2 and P19.00 respectively. The discount is given at 20% of the price. A. Compute for the total cost and B. how many units are needed in order to take advantage of the discount? C. Make a recommendation to the managementThe Farmer’s Wife is a country store specializing in knickknacks suitable for a farm-house décor. One item experiencing a considerable buying frenzy is a miniature Holstein cow. Average weekly demand is 30 cows, with a standard deviation of 5 cows. The cost to place a replenishment order is $15 and the holding cost is $0.75/cow/year. The supplier, however, is inChina. The lead time for new orders is 8 weeks, with a standard deviation of 2 weeks. The Farmer’s Wife, which is open only 50 weeks a year, wants to develop a continuous review inventory system for this item with a cycle-service level of 90 percent.a. Specify the continuous review system for the cows. Explain how it would work in practice.b. What is the total annual cost for the system you developed?