Prince Electronics, a manufacturer of consumer elec- tronic goods, has five distribution centers in different regions of the country. For one of its products, a high- speed modem priced at $350 per unit, the average weekly demand at each distribution center is 75 units. Average shipment size to each distribution center is 400 units, and average lead time for delivery is 2 weeks. Each distribu- tion center carries 2 weeks' supply as safety stock but holds no anticipation inventory. a. On average, how many dollars of pipeline inventory will be in transit to each distribution center? b. How much total inventory (cycle, safety, and pipeline) does Prince hold for all five distribution centers?
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- the economic order quantity (see Chapter 12 for EOQformulas) for its halogen lamps. It currently buys all halogenlamps from Specialty Lighting Manufacturers in Atlanta. Annualdemand is 2,000 lamps, ordering cost per order is $30, and annualcarrying cost per lamp is $12.a) What is the EOQ?b) What are the total annual costs of holding and ordering(managing) this inventory?c) How many orders should D iscount-Mart place with SpecialtyLighting per year?Company B is a retailer of mobile phones in Australia that works 250 days in a year. Themanager would like you to determine a minimum-cost inventory plan for an upcoming mobilephone to be launched in the market. They have collected the following information:• Annual demand: 750 phones• Phone cost: $1,005 each• Phone RRP: $1,149 each• Net weight: 167 g each• Tare weight: 257 g each• Annual inventory holding cost: 27.5%• Cost per order to replenish inventory: $81.71• Annual in-transit holding cost: 10%• Freight rate (per kg): $8.10• Freight-related charges (per shipment): $276.50 (i.e. handling fee, dangerous goodfee, and lithium battery fee)• Time to process order for freight: 2 day• Freight transit time: 5 daysThe manager wants you to determine the following information:a. Economic order quantityb. The total purchasing costc. The total ordering costd. The total inventory holding coste. The total transportation cost (by weight)f. The total freight-related cost (by shipment)g. The total…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:a What is the EOQ?b What are the total annual ordering and holding costs(inUS dollars)?
- Gainesville Cigar stocks Cuban cigars that have variablelead times because of the difficulty in importing the product:lead time is norma lly distributed with an average of 6 weeks anda standard deviation of 2 weeks. Demand is also a variable andnormally distributed with a mean of 200 cigars per week and astandard deviation of 25 cigars.a) For a 90% service level, what is the ROP?b) What is the ROP for a 95% service level?c) Explain what these two service levels mean. Which ispreferable?A producer of tires has an annual demand for a specific brand of tire. Theannual demand is 14,000. The cost of ordering these tires for the distributioncenter for each order is $1,200 per order. The annual holding cost is $8.50 pertire per year (in U.S. dollars): (In Excel with formulas)a What is the EOQ and the total annual cost at EOQ?b If the company decides to place more frequent orders, then theordering cost would increase to $1,800 per order. Nevertheless, the increasedfrequency of orders would decrease the annual holding cost to $6.50 per tireper year. Should the distribution center order tires more frequently?Company B is a retailer of mobile phones in Australia that works 250 days in a year. The manager would like you to determine a minimum-cost inventory plan for an upcoming mobile phone to be launched in the market. They have collected the following information: • Annual demand: 750 phones • Phone cost: $1,005 each• Phone RRP: $1,149 each• Net weight: 167 g each • Tare weight: 257 g each• Annual inventory holding cost: 27.5%• Cost per order to replenish inventory: $81.71• Annual in-transit holding cost: 10%• Freight rate (per kg): $8.10• Freight-related charges (per shipment): $276.50 (i.e. handling fee, dangerous good fee, and lithium battery fee)• Time to process order for freight: 2 day • Freight transit time: 5 days The manager wants you to determine the following information: a. Economic order quantityb. The total purchasing costc. The total ordering cost d. The total inventory holding coste. The total transportation cost (by weight)f. The total freight-related cost (by shipment) g.…
- Tax Preparers, Inc. works 250 days per year. Th e companyuses adding machine tape at a rate of eight rolls per day. Usageis believed to be normally distributed with a standard deviationof three rolls during lead time. Th e cost of ordering the tape is$10, and holding costs are $0.30 per roll per year. Lead time istwo days.(a) Calculate the economic order quantity.(b) What reorder point will provide an order-cycle servicelevel of 97 percent?(c) How much safety stock must the company hold to have a97 percent order-cycle service level?(d) What reorder point is needed to provide an order-cycleservice level of 99 percent?(e) How much safety stock must the company hold to have a99 percent order-cycle service level?b. Forward Thinking Limited (FTL) has used a fixed-time period inventory system that involvedtaking a complete inventory count of all items each month. However, increasing labor costs, areforcing FTL, to examine alternative ways to reduce the amount of labour involved in inventorystockrooms, yet without increasing other costs, such a shortage costs. Table 4 (below) is arandom sample of 20 FTL’s items.6Table 4. Annual Usage by Value of a sample of FTL’s InventoryItem Number Annual Usage ($) Item Number Annual Usage ($)1 10,700 11 2,8502 14,100 12 1,5003 4,100 13 3,3004 16,100 14 2,6005 8,200 15 110,1006 1,900 16 14,9007 84,100 17 9,6008 990 18 1,8009 1040 19 3,80010 94,100 20 12,600 (i) What would you recommend FTL to do to cut back its labor cost? (Illustrate using an ABCplan).William Bevi lle's computer training school, inRichmond, stocks workbooks with the following characteristics:Demand D = 19,500 units/ yearOrdering costS = $25/ orderHolding cost H = $4/ unitjyeara) Calculate the EOQ for the workbooks.b) What are the annual holding costs for the workbooks?c) What are the annual ordering costs?
- 1. Inventory management at Flame ElectricalInventory management in some operations is more than just a part of their responsibility; it is their very reason for being in business. Flame Electrical, South Africa’s largest independent supplier and distributor of lamps, is such a business. It stocks over 2900 different types of lamp, which are sourced from 14 countries and distributed to customers throughout the country.‘In effect our customers are using us to manage their stocks of lighting sources for them,’ says Jeff Schaffer, the Managing Director of Flame Electrical. ‘They could, if they wanted to, hold their own stock but might not want to devote the time, space, money or effort to doing so. Using us they get the widest range of products to choose from, and an accurate, fast and dependable service.’Central to the company’s ability to provide the service its customers expect is its computerized stock management system. The system holds information on all of Flame’s customers, the…4b Briefly discuss the incentives in the RVRBS payment method, in termsof 1) volume of physician services and supply-side moral hazard, and 2)provision of primary careCompany B is a retailer of mobile phones in Australia that works 250 days in a year. The manager is determining a minimum-cost inventory plan for an upcoming phone to be launched in the market. She has collected the following information: Annual demand: 1000 phones• Phone cost: $1,214 each• Phone RRP: $1,349 each• Net weight: 163 g each• Tare weight: 277 g each• Annual inventory holding cost: 15%• Cost per order to replenish inventory: $75• Annual in-transit holding cost: 10%• Freight rate: $8.10 per kg• Time to process order for freight: 1 days• Freight transit time: 3 days Solve this problem using a non-linear programming (NLP) model to determine the followings:a. Economic order quantity for the phone in units and in kgb. The total cost for purchasing the phonesc. The total cost for orderingd. The total cost for holding the inventorye. The total cost for transportationf. The total cost for holding the phones during transitg. The total cost for this inventory planh. The number of…