Ram Roy's firm has developed the following supply, demand, cost and Invelnuly dld. Supply Available Regular Time Demand Forecast Period Overtime Subcontract 30 15 10 50 30 15 10 50 30 20 10 50 Initial inventory Regular-time cost per unit Overtime cost per unit Subcontract cost per unit Carrying cost per unit per month 30 units $100 $160 $250 $2 Assume that the initial inventory has no holding cost in the first period and backorders are not permitted Allocating production capacity to meet demand at.a minimum cost using the transportation method. the total cost is S enter vour
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- In Problem 12 of the previous section, suppose that the demand for cars is normally distributed with mean 100 and standard deviation 15. Use @RISK to determine the best order quantityin this case, the one with the largest mean profit. Using the statistics and/or graphs from @RISK, discuss whether this order quantity would be considered best by the car dealer. (The point is that a decision maker can use more than just mean profit in making a decision.)The following particulars were collected for the year 2015 from Need LLCMonthly demand -2,000 unitsCost of placing an order RO 225.Annual carrying cost per unit 8%Purchase price of input unit RO 350Minimum usage 30 units per weekMaximum usage 50 units per weekRe-order period 6 to 8 weeks.For emergency purchase 4 weeks Required:(a) Re-order quantity(b) Re-order level(c) Minimum level(d) Maximum level(e) Average Stock Level(f) Danger levelA golf specialty wholesaler operates 50 weeks per year. Management is trying to determine an inventory policy for its 1-irons, which have the following characteristics:Demand 1D2 = 2,000 units/yearDemand is normally distributedStandard deviation of weekly demand = 3 unitsOrdering cost = $40/orderAnnual holding cost 1H2 = $5/unitsDesired cycle@service level = 90 percentLead time 1L2 = 4 weeksa. If the company uses a periodic review system, what should P and T be? Round P to the nearest week.b. If the company uses a continuous review system, what should R be?
- AutoTime, a manufacturer of electronic digital timers, has a monthly fixed cost of $50,000 and a production cost of $7 for each timer manufactured. The timers sell for $15 each. (a) What is the cost function C(x)?C(x) = (b) What is the revenue function R(x)?R(x) = (c) What is the profit function P(x)?P(x) = (d) Compute the profit (loss) corresponding to production levels of 3000, 6000, and 11,000 timers, respectively. (Input a negative value to indicate a loss.) 3000 timers $ 6000 timers $ 11,000 timers $Abby just finished her short-term course in Culinary Arts. With this pandemic we are facing now, her father is retrenched from his work. To help her family financially, she decided to make brownies and sell it online. The cost of producing 36 pieces of brownies are the following: ₱600 worth of ingredients ₱45 for 6 pieces of medium box ₱100 for 1 hour of labor cost ₱150 delivery cost The cost of promoting the product is none since she promotes it using any social media platform. Let’s say your desired return on sale is 40% and since it is a home-based small business, she will not have any fixed expenses related to baking. Using the Unit Product Cost, compute for the unit product cost and the marked-up price of her brownies.Your company makes hand sanitizer in two lines: Moisturizing+, and StandardSoap. On the market, Moisturizing+ retails for $175/L and StandardSoap retails for $95/L. You make the hand sanitizer by combining lotion, soap, and secret ingredient SpecialX. These ingredients are purchased from a mysterious supplier, and you can purchase at most 4000L of lotion, 5000L of soap, and 750L of SpecialX in a month. Lotion costs $25/L, soap costs $10/L, and SpecialX costs $35/L. To make 1L of Moisturizing+, you need to combine 0.5L of lotion, 0.3L of soap, and 0.2L of SpecialX. To make 1L of StandardSoap, you need to combine 0.4L of lotion, 0.55L of soap, and 0.05L of SpecialX. Your company has committed to donating 500L of StandardSoap to a local charity. Since this is a donation, you will not receive any revenue. However, the costs and purchasing limits apply to both the hand sanitizer that is sold on the market and donated to charity. You want to maximize your monthly profit. Assume that…
- A distributor of large appliances needs to determine the order quantities and reorderpoints for the various products it carries. The following data refer to a specii c refrigeratorin its product line:Cost to place an orderHolding costCost of refrigeratorAnnual demandStandard deviation of demand during lead timeLead time$10020 percent of product cost per year$500 each500 refrigerators10 refrigerators7 daysConsider an even daily demand and a 365-day year.a. What is the economic order quantity?b. If the distributor wants a 97 percent service probability, what reorder point, R, shouldbe used?Explain what is the definition of a deterministic inventory model ? When is it appropriate to use ?Which of the following statements are true or false? 1.1 One of the objectives of purchasing and supply chain management is to maintain an optimum balance of inventory that would ensure the desired level of customer service while increasing costs. 1.2 Supply management has a major impact on the net income of the firm because it increases input costs and reduces sales revenue 1.3 The purchasing and supply function of a firm operates independently from the other enterprise functions. 1.4 Supply Management is the process of planning, organising, coordinating and controlling all the resources of the firm effectively and efficiently in order to attain the objectives of the firm as determined by management. 1.5 Strategic plans formulated at top management of purchasing and supply management are implemented or executed at top level management 1.6 In decentralized purchasing structures negotiating power is increased and volume discounts are made possible. 1.7 Steps of the strategic…
- The Frist Corporation has the followinginternal controls related to inventory:1. Only authorized inventory warehousing personnel are allowed in inventory storageareas.2. All inventory products are stored in warehousing areas that are segregated fromother storage areas used to house equipment and supplies.3. All inventory held on consignment at Frist Corporation is stored in a separatearea of the warehouse.4. The inventory purchasing system only allows purchases from pre-approved vendors.5. The perpetual inventory system tracks the average number of days each inventoryproduct number has been in the warehouse.6. Microchips are embedded in each product and when inventory items are removedfrom the warehouse to shipping, radio-frequencies signal a deduction of inventoryto the perpetual inventory system.7. On a weekly basis, inventory accounting personnel take samples of inventoryproducts selected from the perpetual inventory system and verify that the inventoryis on-hand in the warehouse…Use Excel to make calculations Given the following sales data: Quarter Year 1 Year 2 1 120 150 2 160 200 3 210 250 4 130 170 Compute the seasonal index for each quarter and forecast quarterly demand for year 3 with a projected annual demand of 1000. The efficiency of a production unit is 70 percent. The unit produces an average of 100 products per day. Determine the effective capacity of the unit. The utilization of a machine is 60 percent. The machine has a design capacity of 150 units per hour and an effective capacity of 100 units per hour. Find the efficiency of the machine. FloorsRUs is considering new locations for its manufacturing plants. Costs for constructing a new facility in Huntsville are $1,100,000 and the company estimates that for every product from its new line, there would be an additional cost of $3. If the company were to locate in Hays, the new facility would cost $1,800,000 and each product would incur a $2…The general manager of XXX Factoring is about to decide whether to enterinto the small and medium enterprise (SME) market. XX Company's customers so far have been mostly big-size companies. The decision to provide factoring to SMEs would mean entering into a new market. Turkey's economy increasingly rely on SMEs, and XX Company doesn't want to jeopardize Company’s position in the market. However, the company also wants to grow fast. Conduct an industry analysis using Porter’s 5 Forces.