For Raw material A007, a company maintains a safety stock of 5,000 pounds. Its average inventory (taking into account the safety stock) is 15,000 pounds. What is the apparent order quantity (in lbs.)?
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For Raw material A007, a company maintains a safety stock of 5,000 pounds. Its average inventory (taking into account the safety stock) is 15,000 pounds. What is the apparent order quantity (in lbs.)?
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- 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 copper $ .81 per pound up to 2,499 pounds .80 2,500-4,999 pounds .78 5,000 pound or greater Annual demand 51,000 pounds per year Holding cost 30 % per unit/yr. Of the price of copper Ordering cost $ 30 Which quantity should be ordered?Based on an EOQ analysis (assuming a constant demand), the optimal order quantity is 2,500. The company desires a safety stock of 500 units. A 5-day lead time is needed for delivery. Annual inventory carrying costs equal 25% of the average inventory level. The company pays P4 per unit to buy the product, which it sells for P8. The company pays P150 to place a detailed order, and the monthly demand for the product is 4,000 units. Compute for the annual inventory carrying costsXYZ has developed the following data from its Material A Safety stock 280 Average (normally) daily use 200 Maximum daily use 240 Minimum daily use 180 EOQ 1,000 Cost of placing an order P20 Working days per year 250 days Lead time 6 days What is the reorder point? What is the absolute maximum inventory? What is the normal maximum inventory? What is the cost of carrying an inventory per unit per year? What is the cost of carrying an inventory per unit per year?
- Oriental Healthcare is a multi-specialty hospital catering to a variety of illnessesconnected to the heart and respiratory systems. The demand for a class of medicalconsumable is generally random. Recently, an examination of the stores records overa period of 10 weeks revealed the following weekly consumption pattern:Week No. Consumption(Units)1 1202 1093 894 1405 1106 1457 778 1209 13010 80The supplier of the item takes on an average 2 weeks to deliver once the order isplaced. Design an appropriate inventory control policy for a periodic review systemfor a review frequency of 4 weeks for a 99% service levelIn the classic Economic Order Quantity (EOQ) associated with inventory under the assumptions of constant demand and fixed costs, what happens if the annual demand increases from 1000 units to 2000 units? The EOQ increases and the reorder point increases. The EOQ decreases and the reorder point decreases. The EOQ increases and the reorder point remains the same. The EOQ decreases and the reorder point increases.What is the average demand and standard deviation of demand during the protextion interval? the target inventory ? the order quantity ?
- Which one of the following variables is not explicitly considered in the computation of the Economic Order Quantity? a. Per unit per year cost of storage and storage insurance for the inventories purchased b. Annual quantity forecasted by the firm that will satisfy the demand of the customers c. Any deductions from the selling price granted by the suppliers to the buyers due to certain quantities reached d. Ordering or transaction cost that must be constant regardless of quantity orderedSouthern Markets, Inc. is considering the use of ABCanalysis to focus on the most critical SKUs in its inventory.Currently, there are approximately 20,000 different SKUswith a total dollar usage of $10,000,000 per year.a. What would you expect to be the number of SKUs and thetotal annual dollar usage for A items, B items, and C itemsat Southern Markets, Inc.? b. The following table provides a random sample of the unitvalues and annual demands of eight SKUs. Categorizethese SKUs as A, B, and C items.The two-bin approach is used to control inventory for a particular low-cost component. Each bin holds 1000 units. The annual usage of the component is 40,000 units. Cost to order the component is around $50. (a) What is the imputed holding cost per unit for this data? (b) If the actual annual holding cost per unit is only 5 cents, what lot size should be ordered? (c) How much more is the current two-bin approach costing the company annually, compared to the economic order quantity?
- 39 Item X Is a standard item stocked in a company's inventory of component parts. Each year the firm, on a random basis, uses about 2,700 of item X, which costs $25 each. Storage costs, which include insurance and cost of capital, amount to $5 per unit of average inventory. Every time an order is placed for more of item X, it costs $20. a. Whenever item X is ordered, what should the order size be? Note: Round your answer to the nearest whole number. b. What is the annual cost for ordering item X? Note: Round your order quantity to the nearest whole number and your final answer to 2 decimal places.During the last 5 weeks, demands for a certain SKU at a retailer were 7 units (5 weeks ago), 4 units, 4 units, 4 units, and 5 units (last week). The retailer uses a period review model with order-up-to level 71 units, a review period of 2 weeks, and the lead time is 11 weeks. It is time to order. How much should the retailer order?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 $ 0.79 per pound up to 2,999 pounds $ 0.78 per pound for orders between 3,000 and 5,999 pounds $ 0.76 per pound for orders 6,000 pounds or greater Annual demand 50,000 pounds per year Holding cost 20 percent per unit per year of the price of the copper Ordering cost $ 30 Which quantity should be ordered?