Please show work so I can understand it. A company decides to establish an EOQ for an item. The annual demand is 200,000 units. The ordering costs are $40 per order, and inventory-carrying costs are $16 per unit per year. Calculate the following: (a). The EOQ in units. (b). Number of orders per year. (c). Annual ordering cost, annual holding cost, and annual total cost
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- Please complete the problem usinf EXCEL, Show ALL formulas Demand for a popular athletic shoe is nearly constant at 800 pairs per week for a regional division of a national retailer. The cost per pair is $54. It costs $72 to place an order, and annual holding costs are charged at 22% of the cost per unit. The lead time is two weeks. a. What is the EOQ? b. What is the reorder point? c. What is the cycle time? d. What is the total annual cost?It is your responsibility, as the new head of the automotive section of Nichols Department Store, to ensure that reorder quantities for the various items have been correctly established. You decide to test one item and choose Michelin tires, XW size 185 × 14 BSW. A perpetual inventory system has been used, so you examine this as well as other records and come up with the following data: Cost per tire $35 each Holding cost 20 percent of tire cost per year Demand 1,000 per year Ordering cost $20 per order Standard deviation of daily demand 3 tires Delivery lead time 4 days Because customers generally do not wait for tires but go elsewhere, you decide on a service probability of 98 percent. Assume the demand occurs 365 days per year. Determine the order quantity. Note: Round your answer to the nearest whole number. Determine the reorder point. Note: Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the…Suppose that the R&B Beverage Company has a soft drink product that shows a constant annual demand rate of 3,800 cases. A case of the soft drink costs R&B $3. Ordering costs are $20 per order and holding costs are 25% of the value of the inventory. R&B has 250 working days per year, and the lead time is 5 days. Identify the following aspects of the inventory policy. a. economic order quantity (round your answer to the nearest integer.) _____450_______ b. reorder point ______76______ c. cycle time (in days) (round your answer to two decimal places.) ______29.61______ d. total annual cost (in $) (round your answer to two decimal places.) _____?_______ ***I am asking the question with the ? symbol. I have been able to locate the numbers for the first three but I am having issues computing my answers for the last one.
- A clothing manufacturing company requires raw materials for 8 consecutive weeks as follows: 30, 40, 50, 35, 60, 30, 40, and 30 units with a one-time order cost of $50,000 and a storage fee of $500 per unit/week. From these data calculate the total cost of procurement using:a. Lot For Lot (LFL) Methodb. Economic Order Quantity (EOQ) Methodc. Period Order Quantity (POQ) Methodd. In your opinion as an operations manager at the company which method would you choose? Explain, why?Rafiki Bar uses 10,000 cases of millet beer monthly. One case costs Shs.5,000. Holding cost is 30% of the cost of a case p.a while ordering cost is Shs.100,000 per order. The firm works 360 days in a year while lead time is 6 days. Required: ii. Determine the days between orders and the reorder point iii. Determine the total cost of the inventory policy iv. Suppose actual holding cost turns out to be 15% instead of 30% and the inventory policy above is implemented for a year, determine the cost of prediction error if every other parameter estimate turns out as predicted.Custom Computers, Inc. assembles custom home computersystems. Th e heat sinks needed are bought for $12 each and areordered in quantities of 1300 units. Annual demand is 5200 heatsinks, the annual inventory holding cost rate is $3 per unit, andthe cost to place an order is estimated to be $50. Calculate thefollowing:(a) Average inventory level(b) Th e number of orders placed per year(c) Th e total annual inventory holding cost(d) Th e total annual ordering cost(e) Th e total annual cost
- G-Tech’s monthly demand is 1000 units. You are in charge of the inventory department. You know that the holding cost is $100 per unit and ordering cost is $4,000 per order. What is the EOQ? 2. What is the number of orders per year? 3. What is the annual holding cost? (not Total cost, just the holding cost portion! 4. If we decide to order a quantity of 1000 units instead of the EOQ, what happens to the annual holding cost? (Just tell me in words – could be 3 short words!)Your objective is to help company by determining EOQ* (Economic Order Quantity) that minimizes the totalinventory cost for a company that sells ceiling fans. Your worksheet provides information about the currentorder quantity, demand quantity and other costs.Questions: Answer A and Ba. With the current order quantity, what is the total cost of inventory?b. Implement the problem in Excel and find the order quantity (EOQ) (round to nearest integer) that givesminimum inventory cost. Note: this is a Non-linear programming, hence select “GRG Nonlinear” method inSolver- How much money would company save by switching to optimum quantity from current orderquantity?Design your own inventory management problem with the required input data and answer the following questions : a. What is the optimal order size? b. What is the optimal number of orders per year? What is the optimal number of days between orders? d. What is the annual inventory cost? e. If the lead time were X days/weeks/months, what would be the reorder point? f. For what value of ordering cost would Y units of order size be optimal?
- Given the following information, compute the economic order quantity, annual holding cost, annual order cost, and annual total inventory cost. Annual requirements (R) = 50,000 units Order cost (S) = $150 per order Holding rate (k) = 15% Unit cost (C) = $100 per unitThe following information regarding inventory policy was assembled by the GB Inc. The company uses a 50-week year in all calculations: Sales: 10,000 units per year Order quantity: 2,000 units Safety stock: 1,300 units Lead time: 4 weeks The reorder point is: a. 3,300 units b. 2,100 units c. 100 units d.300 unitsCustom Computers, Inc. assembles custom home computer systems. The heat sinks needed are bought for $12 each and are ordered in quantities of 1300 units. Annual demand is 5200 heat sinks, the annual inventory holding cost rate is $3 per unit, and the cost to place an order is estimated to be $50. Calculate the following: (a) Average inventory level (b) The number of orders placed per year (c) The total annual inventory holding cost (d) The total annual ordering cost (e) The total annual cost