PC World stocks and sells a particular brand of personal computer. It costs the store £ 400 each time it place an order with the manufacture for the personal computers. The annual cost of carrying the PCs in inventory is £ 170. The store manager estimates that annual demand for the PCs will be 1,000 units. Determine optimal order quantity using the basic EOQ model (you should round to the nearest integer number). Your Answer:

PC World stocks and sells a particular brand of personal computer. It costs the store £ 400 each time it place an order with the manufacture for the personal computers. The annual cost of carrying the PCs in inventory is £ 170. The store manager estimates that annual demand for the PCs will be 1,000 units. Determine optimal order quantity using the basic EOQ model (you should round to the nearest integer number). Your Answer:

Precision Machining Technology (MindTap Course List)

2nd Edition

ISBN:9781285444543

Author:Peter J. Hoffman, Eric S. Hopewell, Brian Janes

Publisher:Peter J. Hoffman, Eric S. Hopewell, Brian Janes

Chapter2: Measurement, Materials, And Safety

Section2.5: Quality Assurance, Process Planning, And Quality Control

Problem 10RQ: If an X-bar chart graph falls below the LCL or rises above the UCL, a machining process is said to...

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Q5: A manager of an inventory system believes that inventory models are important decision making aids. Even though often using an EOQ policy, the manager never considered a backorder model because of the assumption that backorders were “bad” and should be avoided. However, with upper management’s continued pressure for cost reduction, you have been asked to analyze the economics of a backorder policy for some products that can possibly be backordered. For a specific product with D = 1200 units per year, Co = 160, = 4, and = 25, what is the difference in total annual cost between the EOQ model and the planned shortage or backorder model? If the manager adds constraints that no more than 25% of the units can be backordered and that no customer will have to wait more than 18 days for an order, should the backorder inventory policy be adopted? Assume 300 working days per year.
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