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- The Bucks Grande exhibition baseball team plays 50 weeks each year and uses an average of 350 baseballs per week. The team orders baseballs from Coopers-Town, Inc., a ball manufacturer noted for six-sigma–level consistency and high product quality. The cost to order baseballs is $100 per order and the annual holding cost per ball is 38 percent of the purchase price. Coopers-Town’s price structure is: Order Quantity Price per Unit 1–999 ........ $7.50 1,000–4999 ...... $7.25 5,000 or more ..... $6.50 a. How many baseballs should the team buy per order? b. What is the total annual cost associated with the best order quantity? c. Coopers-Town, Inc., discovers that, owing to special manufacturing processes required for the Buck’s base-balls, it has underestimated the setup time required on a capacity-constrained piece of machinery. Coopers-Town adds another category to the price structure to provide an incentive for larger orders and thereby hopes to reduce…The soft goods department for AMG sells 175 units per month of a certain large bath towel. The unit cost of a towel to the manufacturer is R2.50 and the cost of placing an order has been estimated to be R12.00. The organization uses an inventory carrying charge of 27% of the unit cost per year. Determine the optimal order quantity, the order frequency, and the annual holding and setup cost Item Annual Demand Unit Cost A211 800 R9 B390 100 R90 C003 450 R6 D100 400 R100 E707 85 R2000 F660 250 R320 G473 500 R75 H921 100 R75The annual demand for sugar at a local soft drink company is normally distributed with a mean of 800 tons and a standard deviation of 25 tons. The sugar sells for OMR 500 each ton, and the annual inventory holding cost rate is 10%. Ordering costs are OMR5 per order. The delivery time for sugar is 5 working days. Assume that there are 250 working days in a year. 1. Determine the optimal order quantity. 2. What size of safety stock should the company keep at a service-level of 90%? 3. Suppose they keep 8 extra tons in inventory as a safety stock. What is the service-level obtained? 4. Evaluate the fill rate Beta for a safety stock of 5 tons. 5. What is the expected number of units short per year? 6. Compare the level of safety stock for each policy =Beta=0.95.
- Children’s art sets are ordered once each year by AshokKumar, Inc., and the reorder point, without safety stock ( dL ),is 100 art sets. Inventory carrying cost is $10 per set per year, and the cost of a stockout is $50 per set per year. Given the fol-lowing demand probabilities during the lead time, how much safety stock should be carried? DEMAND DURING LEAD TIME PROBABILITY0 .150 .2ROP S 100 .4150 .2200 .11.0The sales of Whole Care mouthwash at Tom's of Maine over the past six months have averaged 2,000 cases per month, which is the current order quantity. Tom's of Maine's cost is $12.00 per case, and ordering cost is $38. The company estimates its cost of capital to be 12 percent. Insurance, taxes, breakage, handling, and pilferage are estimated to be approximately 6 percent of the item cost. Lead time is 3 days, and considering weekends and holidays, Tom's of Maine operates 250 days per year. Based on the above information please answer the following questions a) What is EOQ? b) What is the cost reduction? c) What is the reorder point? d) What is Time between Orders (TBO)?The annual demand for sugar at a local soft drink company is normally distributed with a mean of 800 tons and a standard deviation of 25 tons. The sugar sells for OMR 500 each ton, and the annual inventory holding cost rate is 10%. Ordering costs are OMR5 per order. The delivery time for sugar is 5 working days. Assume that there are 250 working days in a year. 1) Evaluate the fill rate B for a safety stock of 5 tons. 2) What is the expected number of units short per year? 3) Compare the level of safety stock for each policy a=B=0.95.
- Amy drinks 5 capsules of coffee every week (assuming 50 weeks in a year). Each capsule costs $1, and the delivery fee is $5 per order. The annual holding cost rate is 20%. The coffee manufacturer provides a special offer: the price of each capsule becomes $0.98 if the order quantity is at least 80 capsules. Amy, therefore, conducts the following analysis: STEP 1: The EOQ without the discount is around 112 units, and the corresponding minimum ordering + holding cost is $22.36. STEP 2: The ordering + holding cost with the quantity discount is K*R/80 + h_new*80/2 = $23.47. STEP 3: The additional ordering + holding cost to get the discount offer is $23.47 - $22.36 = $1.11. STEP 4: The additional saving in the purchasing cost is R*($1 - $0.98) = $5. According to Amy's analysis, she decides the quantity = 80 to obtain the discount, but the decision is not optimal. Please choose the earliest step that Amy makes a mistake. a Step 1 b Step 2 c Step 3 d Step 4The Bucks Grande exhibition baseball team plays 50 weeks each year and uses an average of 350 baseballs per week. The team orders baseballs from Coopers-Town, Inc., a ball manufacturer noted for six-sigma-level consistency and high product quality. The cost to order baseballs is $100 per order and the annual holding cost per ball is 38 percent of the purchase price. Coopers-Town’s price structure is: Order Quantity Price per Unit 1–999 $7.50 1,000–4999 $7.25 5,000 or more $6.50 a. How many baseballs should the team buy per order? b. What is the total annual cost associated with the best order quantity? c. Coopers-Town, Inc., discovers that, owing to special manufacturing processes required for the Buck’s baseballs, it has underestimated the setup time required on a capacity-constrained piece of machinery. Coopers-Town adds another category to the price structure to provide an incentive for larger orders and thereby hopes to…Jim recently acquired a designer shoe store in downtown silver spring. The former owner always ordered 100 pairs of shoes. Jim wants to reevaluate this policy. Based on his analysis, the cost to place each order is $40 and the holding cost is $12 per shampoo bottle per year. The annual demand for this product is 2500 pairs. Should Jim change the current order policy and, if so, how much can she save? Answer in two decimal places. (Hint: Calculate annual total cost using the old and the new policy and compare)
- Anna Smith sells beauty supplies. Her annual demand for a particular skin lotion is 1,000 units. The cost of placing an order is $20, while the holding cost per unit per year is 10 percent of the cost. This item currently costs $10 if the order quantity is less than 300. For orders of 300 units or more, the cost falls to $9.80. To minimize total cost, how many units should Ivonne order each time she places an order? What is the minimum total cost?A supplier for St. LeRoy Hospital has introduced quantity discounts to encourage larger order quantities of aspecial catheter. The price schedule isOrder Quantity Price per Unit0 to 299 $60.00300 to 499 $58.80500 or more $57.00The hospital estimates that its annual demand for this item is 936 units, its ordering cost is $45.00 per order,and its annual holding cost is 25 percent of the catheter’s unit price. What quantity of this catheter should thehospital order to minimize total costs? Suppose the price for quantities between 300 and 499 is reduced to$58.00. Should the order quantity change?William Beville's Computer Training School in Richmond stocks notebooks for sale and would like to reduce its inventory cost by determining the optimal number of notebooks to order in each order. The ordering cost for each order is $27. The annual demand is 19455 units. The annual cost of holding each unit is $6. Each notebook costs $12. The school has a year of 250 working days. When a new order of notebooks is made, the supplier takes 4 days to deliver it. Show your work. 1. What inventory management model should we use to solve this problem? Model Economic Quantity to Order Model for discount purchases Model Economic Quantity to Produce Model to handle dependent demand 2. What is the optimal number of notebooks to make in each order? Response 3. What is the annual ordering cost (AOC)? Response 4. What is the Annual Holding Cost (AHC)? Response 5. What is the annual product cost (APC)? Response 6. What is the annual total cost of managing inventory (ATC) Answer 7. What would be the…