Monthly demand for a component is 1000 units. Setting-up cost per batch is 120. Cost of manufacture per unit is 20. Rate of interest may be considered at 10% p.a. Calculate the EBQ.
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- Company X has a demand of 75 Lakhs per year. Setup cost and holding cost are 29 and 35 per unit. Number of pieces in a order includes 2.3 Lakhs per order. Printing is done 300 days and 2 days to deliver this magazine. What is the annual demand to production ratio in this case. What does it indicate for the company?1)Which of the following will have lesser bullwhip effect in a supply chain? A)Supply Chain co-ordination B)Opening more stocking points closer to the point of consumption C)Empowering the lower echelons of the inventory to take decisions on fulfilling the demand D)All of the above 2)What is the effect of delayed differentiation strategy? A)The number of variants offered will be reduced B)The inventory carrying costs will come down C)Production Planning and Control will become more difficult D)Bullwhip effect will be more pronounced 3)What changes can you envisage in economic order quantity based planning when the demand for the item increases by 5%? A)The economic order quantity will come down by √(5%) B)The carrying cost will increase by 1/ √(5%) C)The total cost of the plan will go up by √(5%) D)The total cost of the plan will go up by 5%At the EOQ, what is the firm’s total inventory cost per year, assuming safety stock = 15 units?
- Current decision to buy: Ross White's machine shop uses 200 brackets each month during the course of a year. This usage is relatively constant throughout the year. Currently, these brackets are purchased from a supplier 100 miles away for $16 each and the lead time is 2 days. The holding cost per bracket per year is $1.60 (10% of the unit cost) and the annual ordering cost per order is $18.50. There are 240 working days per year. Possible future decision to make in-house: Ross White is reconsidering his decision of buying the brackets and is considering making the brackets in-house. He has determined the set up costs would be $24.50 in machinist time and lost production time. Forty eight brackets could be produced in a day once the machine has been set up. Ross estimates that the cost (including labor and materials) of producing one bracket would be $14.85. The holding cost would be 10% of the cost. a. What is the EOQ given Ross' current decision to buy the brackets? What is the total…Develop a EOQ solution and calculate total relevant costs for the gross requirements in the following table*. Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 20 30 30 30 20 10 40 60 *Holding cost =$ 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…One-Eyed Toad Pottery makes custom planters for up-scale clients. The average demand for planters is 20 per week. One-Eyed Toad’s production facility has the capacity to make 25 planters per week. Setup cost is $1500. The value of finished goods inventory is $250 per planter. The annual per-unit inventory holding cost is 35 percent of the item’s value.a. What is the economic production lot size (ELS)?b. What is the average time between orders (TBO)?c. What is the total of the annual holding cost and setupcost?
- Current decision to buy: Ross White's machine shop uses 300 brackets each month during the course of a year. This usage is relatively constant throughout the year. Currently, these brackets are purchased from a supplier 100 miles away for $25 each and the lead time is 2 days. The holding cost per bracket per year is $3.75 (15% of the unit cost) and the annual ordering cost per order is $18.50. There are 240 working days per year. Possible future decision to make in-house: Ross White is reconsidering his decision of buying the brackets and is considering making the brackets in-house. He has determined the set up costs would be $22.50 in machinist time and lost production time. Forty eight brackets could be produced in a day once the machine has been set up. Ross estimates that the cost (including labor and materials) of producing one bracket would be $22.85. The holding cost would be 12% of the cost. What is the EOQ given Ross' current decision to buy the brackets? What is the…Black Instrument Company replenishes highly specialized replacement (service) parts based on statistical reorder point. One part is a 40-mm thumbscrew. Relevant data for the thumbscrew are: Planned stock out frequency= Six per year. Planned lead time = 2 weeks Forecast for next week= 300 Batch size = 400 Standard deviation of demand = 20 (per week) What is the reorder point? What would be the effect on the ROP if lead time were five weeks instead of two? What other factors might impact your decision on when to reorder parts?A company stocks an item that is consumed at the rate of 35 units each day. Every time an order is placed for new supply, $ 105 must be paid. A unit inventory held in stock will cost $ 0.15. a) What is the economic order quantity (EOQ)? b) What is the cycle time for the EOQ? c) What is the total cost for the EOQ?
- 1. a. What P (in working days) and T should be used to approximate the cost trade-offs of the EOQ? The time between orders, P, should be______days. (Enter your response rounded to the nearest whole number.) The target inventory, T, should be _______bags. (Enter your response rounded to the nearest whole number.) b. How much more safety stock is needed than with a Q system?______bags. (Enter your response rounded to the nearest whole number.) c. It is time for the periodic review. How much kitty litter should be ordered?________bags. (Enter your response as an integer.)23. Norina Corp. Uses 10,500 yards of material X each day to make shirts. It usually takes 10 days from the time Norina orders the material when it is received. If Norina desired a safety stock of 21,000 yards, What is the order point?after inventory you found out that there are 10 green shirts, 5 white shirts, and 3 red shirts sold as reflected in the sales report of the booth. What part of the inventory was sold if you had 5 colors each shirt on stock, which is 1 dozen pero color?