7 also what would the total beDevelop a lot-for-lot solution and calculate total relevant costs for the gross requirements in the following table"Period234.6.8910 1112Gross requiroments303040 60 3010 7050"Holding cost $2.50/unit/week; setup cost $200; load time 1 week; beginning inventory 40.Develop a lot-for-lot solution (enter your responses as whole numbers).Period3.4.5.101112Gross requirements3030406030107050On-hand at beginning of period40On-hand at end of periodOrder receiptOrder release

Find the Given details below: Given details Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross…

Answered: Develop a lot-for-ot solution and…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Develop a lot-for-lot solution and calculate total relevant costs for the gross requirements in the following table*. Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 30 30 40 70 30 10 70 50 *Holding cost =$ 3.50/unit/week; setup cost =$ 200; lead time =1 week; beginning inventory =40. Develop a lot-for-lot solution (enter your responses as whole numbers). Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 30 30 40 70 30 10 70 50 On-hand at beginning of period 40 On-hand at end of period…
Develop a lot-for-lot solution and calculate total relevant costs for the gross requirements in the following table*. Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 30 30 30 60 30 20 70 60 *Holding cost=$3.50/unit/week; setup cost=$150; lead time=1 week; beginning inventory=40. Develop a lot-for-lot solution (enter your responses as whole numbers). Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 30 30 30 60 30 20 70 60 Scheduled receipt Projected On-hand 40 enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here…
Develop a lot-for-lot solution and calculate total relevant costs for the gross requirements in the following table*. Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 20 30 30 70 30 20 80 50 *Holding cost=$1.50/unit/week; setup cost=$200; lead time=1 week; beginning inventory=40. Part 2 Develop a lot-for-lot solution (enter your responses as whole numbers). Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 20 30 30 70 30 20 80 50 On-hand at beginning of period 40 enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here enter…
What is the difference between a requirements philosophy and a replenishment philosophy of inventory management? Why is this difference important?
Develop a EOQ solution and calculate total relevant costs for the gross requirements in the following table*. Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 20 30 30 30 20 10 40 60 *Holding cost =$ 2.50/unit/week; setup cost =$ 150; lead time =1 week; beginning inventory =40. What is the average demand per week? with 2 decimal places): Calculate Economic Order Quantity (EOQ) Develop a EOQ solution (enter your responses as whole numbers). Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 20 30 30 30 20 10 40 60 Scheduled receipt…
A food processor uses approximately 27,000 glass jars a month for its fruit juice products. Because of storage limitations, a lot size of 4000 jars has been used. Monthly holding cost is $0.18 per jar, and reordering cost is $60 per order. Please answer the following questions by attaching your answers in a Word or Excel document. Show all work. Round up your answers where relevant. 1. What penalty is the company incurring by its present order size. Hint: compare the cost incurred as a result of using the current order size of 4000 jars versus the cost that would be incurred as a result of using the EOQ lot size. 2. What is the number of orders per month that would be placed if the company uses the EOQ order? 3. What is the maximum number of jars that are held in inventory in a given ordering cycle using the EOQ? 4. Assume that the firm operates 30 days per month and the lead time (LT) for each order is 5 days. What is the reorder point (ROP)? Verbally interpret the meaning of this…
Flora's Fabulous Fontains top product is its Model A. Flora is preparing for her busy season and is building 1,800 Model A fountains. Calculate the gross requirements for each component assuming that there is no beginning inventory. Use the following information: Component Immediate Parent Usage per Parent A none - B A 2 C A 1 D A 3 E A 2 F B 4 G B 2 H D 4 I D 2 J E 1 K E 6 L E 2 M F 3 N F 5 O H 2 P K 1 Q K 2 Put the answers down into the table: (If answer is zero, please enter 0, do not leave any fields blank) Component Gross Requirement A enter the gross requirement B enter the gross requirement C enter the gross requirement D enter the gross requirement E enter the gross requirement F enter the gross requirement G enter the gross requirement H enter the gross requirement I enter the gross requirement J enter the gross requirement…
The time-phased net requirements for the base assembly in a table lamp over the next six weeks areWeek 1 2 3 4 5 6Requirements 335 200 140 440 300 200The setup cost for the construction of the base assembly is $200, and the holding cost is $0.30 per assembly per week.a. What lot sizing do you obtain from the EOQ formula?b. Determine the lot sizes using the Silver–Meal heuristic.c. Determine the lot sizes using the least unit cost heuristic.d. Determine the lot sizes using part period balancing.e. Compare the holding and setup costs obtained over the six periods using the policies found in parts (a) through (d) with the cost of a lot-for-lot policy.
Problem 9a: Jones Surgicenter uses 90,000 bags of IV solution annually. The optimal safety stock (which is on hand initially) is 1,000 bags. Each bag costs the center $1.50, inventory carrying costs are 20 percent, and the cost of placing an order with the supplier is $15. Problem 9b: Continuing with the previous question, what is the total inventory cost, TIC? Do not include the dollar sign in your answer.
Develop a EOQ solution and calculate total relevant costs for the gross requirements in the following table*. Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 20 40 30 20 20 10 40 50 *Holding cost=$1.50/unit/week; setup cost=$150; lead time=1 week; beginning inventory=40. What is the average demand per week? (enter your responses with 2 decimal places): enter your response here Calculate Economic Order Quantity (EOQ) (enter your responses as whole numbers): enter your response here Calculate the number of periods for POQ (enter your responses as whole numbers): enter your response here Develop a POQ solution (enter your responses as whole numbers). Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 20…
Solve the below EOQ example. Phone company had the following demand profile and related holding and set up costs: - $0.75 in holding costs per unit = H - Demand rate of 60,000 per year = D - Set up cost of $500 = S What is the EOQ? How many orders they need to make in a year (365 days)? What is the cycle time between the orders?
The following inventory date have been established for Warriors Company: Order must be placed in multiples of 100 Annual sales are 338,000 units The purchase price per unit is P6 Carrying cost is 20% of the purchase price of the goods Fixed order costs is P48 Three days are required for delivery. What is the EOQ? How many orders should Warriors placed each year? How many units must be order every time? Calculate the total cost of ordering and carrying cost if the order quantity is 4,000 units 4,800 units 6,000 units At EOQ

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