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If the transit time is 11 days and the annual
is the average annual inventory in transit?
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- nd 35. AVERAGE SUPPLY A manufacturer supplies S(p) = 0.5p² + 3p + 7 hundred units of a Sie per certain commodity to the market when the price is p dollars per unit. Find the average supply as the price varies from p = $2 to p = $5. 6 43. EYou are setting up a part-time business with an initial investment of $15,000. The unitcost of the product is $11.80, and the selling price is $19.30.a) Find equations for the total cost C and total revenue R for x units.b) Find the break-even point by finding the point of intersection of the cost and revenueequations.c) How many units would yield a profit of $1000?A firm has an annual demand of S units for a good whose purchase cost is £c per unit. Each order costs £a to place, and the cost of holding stock is b% of the average value of stock per annum. Determine the optimal order quantity. A local firm uses 2000 units of a particular component each year. The component has a purchase price of £4/unit, while the cost of holding stock is estimated at 20% of the average stock value. If the cost of placing each order is £12.50, find the optimal number of orders placed each year. Suppose the component supplier offers a discount of 2% on the purchase price if orders are placed in units of 1000. Is the discount worth accepting? Suppose that instead of a single figure you had been given a probability distribution for the number of units used each year. Indicate the effect on stock policy.. Please explain fully , the last part is also important to solve.
- A production order for 200 units is recieved. The item is made on a machine that has a $20 set-up, an output of six items per hour, and a daily fixed cost of $100. The variable item cost is $1.00. What is the highest price the cmpany could afford to buy the item for, instead of producing the item itself?Problem 2 Refer to problem 1.(Problem 1: Auto Mart is a mythical seller of a variety of automobileparts and accessories. Auto Mart's owner, Jonathan Trott, wishes to determine the optimum order quantity for oneof the store's popular wiper blades. The annual demandfor the wiper blades is 16,000. The annual holding costper unit is US$2.50, and the cost to place an order is US$50:) Assuming that holding costs and ordercosts remain the same, if annual demand for wiper blades doubles to 32,000, does the EOQ also Double? Explainyour answer with relevant calculations.The economically destructive price spike of 2007–2008 occurred when spare production capacity fell below 1 mbpd, causing a run-up in oil price from $50 to $145 per barrel. An issue for world oil spare capacity is the internal consumption of OPEC producers. OPEC production has ranged between 30 and 33 mbpd since 2004. Internal use is currently about 25% of total OPEC production, but it is growing by 2% per year. The internal consumption growth is largely for nonelastic end uses such as electricity generation, water treatment, and new buildings. If the current world spare capacity is 2 mbpd and the OPEC total production does not increase beyond 33 mbpd, how many years will it take for the spare capacity to fall below 1 mbpd again?
- Sally Statistics is implementing a system of statistical process control (SPC) charts in her factory in an effort to reduce the overall cost of scrapped product. The current cost of scrap is $X per month. If a 75% learning curve is expected in the use of the SPC charts to reduce the cost of scrap, what would the percentage reduction in monthly scrap cost be after the charts have been used for 6 months? (Hint: Model each month as a unit of production.)Answer is -$3, 085,828 ( please show your work)Given the following information, how many units must be sold to achieve a profit of $25,000? [Note that the units sold must account for total production costs (direct and overhead) plus desired profit.]
- Engineering increases the miles per gallon of gas rating (Mg) by 10 miles per gallon. The manager of the advertising department should point out that demand for Jolts will:Redleaf company's market research department works on the manufacture and marketing of a winter tire for vehicles. Currently the price is 10$, and the demand is 13000 units. When the price is increased to 15$, the company expects the demand to be 8500 units (assume that price is linearly related to demand.). Company is following a make-to-order policy for their production, meaning that they make production as much as ordered from their dealers. The dealers make orders 3 times a year, on January, May and September. The company has 23 dealers, who do not have any capacity restriction on their orders. Yet, the above information is a country-wise research, and shows the aggregate demand (sum of all dealers' orders) for each price. Regardless of the production amount, the company faces with a 2170$ of administrative cost for production, in addition to 1,3 $ cost of raw materials and labour costs per each units produced. If we define price as a function of demand (P(d)) using the…43% of small businesses are either not tracking inventory or using manual processes, such as spreadsheets or pen-and-paper. This creates a higher probability of creating double entries, difficulties in placing and receiving orders, and time-consuming processes of locating stock, among other errors. Suppose you are appointed as a purchasing officer of a small business. You are asked to manage the purchases of NIDO (powder milk). The annual demand = 1500 units of NIDO, Delivered purchase cost = R25/units, Annual carrying cost percentage= 15percent, Order cost = R35/order. The lead time is 10 working days. Assuming 20 working days per month. a) Determine the Economic Order Quantityb) Determine the reorder pointc) Determine the average inventoryd) Suppose orders are placed only at review time. Find the optimal period and the optimal orderquantity.