In the basic EOQ model, if annual demand increased to 4 times the previous demand level, the effect on the EOQ is Multiple Choice It doubles. It is four times its previous amount. ......... It is half its previous amount. It is about 70 percent of its previous amount. The last answer option is: It increases by about 40 percent.
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- Vetox sells industrial chemicals. One of their inputs can be purchased in either jugs orbarrels. A jug contains one gallon, while a barrel contains 55 gallons. The price pergallon is the same with either container. Vetox is charged a fixed amount per orderwhether it purchases jugs or barrels. The inventory holding cost per gallon per monthis the same with either jugs or barrels. Vetox chooses an order quantity to minimizeordering and holding costs per year. Would Vetox purchase a greater number of gallonswith each order if it purchased with jugs or with barrels?a. They would order a greater number of gallons with barrels.b. They would order the same number of gallons with either container.c. They would order a greater number of gallons with jugs.d. They might order a greater number of gallons with jugs or with barrels, depending onvarious factors like the demand rate, ordering cost, and holding cost.Vallie Enterprise sells a product that cost $200 per unit and has a monthly demand of 500 units. The annual holding cost per unit is calculated as 2% of the unit purchase price. It costs the business $30 to place a single order. The maximum number of units sold for any one week is 150 and minimum sales 80 units. The vendor takes anywhere from 2 to 4 weeks to deliver the merchandise after the order is placed. The EOQ model is appropriate. i) What is the cost minimizing solution for this product each year? ii) Determine the re-order level, minimum inventory level and maximum inventory level for the product.Which of the following statements about the basic EOQ model is Ture? If the holding cost were to increase, the EOQ would reduce. If the ordering cost were to decrease, the EOQ would increase. If annual demand were to double, the EOQ would also double. If annual demand were to increase, the EOQ would reduce.
- The materials manager of a tire manfacturer must predict periodically place order for a key chemical one of the raw materials used in manufacturing uses the chemical at a rate of 300lbs each week and the lead time of delivery is 4 days. Assume that the manufacturing operation runs 5 days a week. At what point should the chemical be reorderedd a. when 1200lbs are remaining b. where 0lbs are remaining c. where 375lbs are remaining d. when 240lbs are rem. (Furniture Store) You are the store manager at a large furniture store. One of your products is a study desk. Weekly demand for the desk is normally distributed with mean 40 and standard deviation 20. The lead time from the assembly plant to your store is two weeks and you order inventory replenishments weekly. Except for part i., you use the order-up-to model to control inventory. Suppose your order-up-to level is S = 220. You are about to place an order and note that your inventory level is 100 and you have 85 desks on order. How many desks will you order? Suppose your order-up-to level is S = 220. You are about to place an order and note that your inventory level is 160 and you have 65 desks on order. How many desks will you order? What is the optimal order-up-to level if you want to target a 98 percent in-stock probability? What is the optimal order-up-to level if you want to target a 98 percent fill rate? ( Hint : adapt the exact formulae for the newsvendor problem ,…A firm experiences demand with a mean of 100 units per day. Lead time demand is normally distributed with mean 1000 units and standard deviation 200 units. It costs $6 to hold one unit for one year. If the firm wants to meet 90% of all demand on time, what is the expected annual cost of holding safety stock? Assume that each order costs $50.
- Diskup produces a variety of personal computer products. High-density 3.5-inch disksare produced at a rate of 1,800 per day and are shipped out at a rate of 800 per day. Thedisks are produced in batches. Each disk costs the company 20 cents, and the holdingcosts are based on an 18 percent annual interest rate. Shortages are not permitted. Eachproduction run of a disk type requires recalibration of the equipment. The companyestimates that this step costs $180.a. Find the optimal size of each production run and the time between runsA firm experiences demand with a mean of 100 units perday. Lead time demand is normally distributed, with a meanof 1,000 units and a standard deviation of 200 units. It costs$6 to hold one unit for one year. If the firm wants to meet90% of all demand on time, what will be the annual cost ofholding safety stock? (Assume that each order costs $50.)Please do not give solution in image formate thanku. A given product has an expected demand of 240 units per month, with a standard deviation of 70 units per month. Leadtime is 0.5 months. Customer service level (CSL) has been set so that we have a value of k=1.28. We want to manage this product's inventory using a (R, S) periodic review policy. We plan to order every 2 months (R = 2 months). Using the k value from above, what is the order up to level, S, for this policy? Give your answer rounded to the closest integer. Since orders are placed every 2 months, and the demand is variable, the order quantities are not identical. But we can estimate an average order size. What is the expected average order size for the policy described above? Under this policy, how many orders are placed per year? Placing each order costs $100. What is the annual ordering cost?
- Rocky Mountain Tire Center sells 20,000 go-cart tires per year. The ordering cost for each order is $40, and the holding cost is 20% of the purchase price of the tires per year.The purchase price is $20 per tire if fewer than 500 tires are ordered, $18 per tire if 500 or more-but fewer than 1,000- tires a re ordered, and $17 per tire if I ,000 or more tires areordered.a) How many tires should Rocky Mountain order each time it places an order?b) What is the total cost of this policy?Change the ordering simulation so that emergencyorders are never made. If demand in any week isgreater than supply, the excess demand is simplylost. Simulate the same (s, S) policies as in theexample.Order-up to model is that have been ordered but have not been received. Order up to level is when stock levels are periodically reviewed, and an amount of the item is ordered to return stock levels to the target level. Which of the following is true about the order-up to model? A. It prevents a company from being out of stock B. It is useful for a goods with a short shelf life C. As lead time decreases, inventory levels will decrease.