Tobacco is shipped from North Carolina to a cigarette manufacturer in Cambodia once a year. The reorder point, without safety stock, is 200 kilos. The carrying cost is $10 per kilo per year, and the cost of a stockout is $75 per kilo per year. Given the following demand probabilities during the lead time, how much safety stock should be carried? Demand During Lead Time (Kilos) Probability 0.1 100 200 0.1 0.2 300 0.4 400 0.2 The optimal quantity of safety stock which minimizes expected total cost is kilos (enter your response as a whole number).
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- Tobacco is shipped from North Carolina to a cigarette manufacturer in Cambodia once a year. The reorder point, without safety stock, is 200 kilos. The carrying cost is $15 per kilo per year, and the cost of a stockout is $70 per kilo per year. Given the following demand probabilities during the lead time, how much safety stock should be carried? Demand During Lead Time (Kilos) Probability 0 0.1 100 0.1 200 0.2 300 0.4 400 0.2 Part 2 The optimal quantity of safety stock which minimizes expected total cost is enter your response here kilos (enter your response as a whole number).Kids’ toys makes an order once each year an the reorder point, without safety stock, is 200 toys. The inventory holding cost is 5$ per toy per year, and cost of stockout is 15$ per toy per year. The following table shows the probability of demand during lead time: Demand during lead time Probability 0 0.05 100 0.15 200 0.35 300 0.25 400 0.2 With a safety stock of 100 toys, the stockout cost is? What is the probability that there is a need to have a safety stock of 100 toys? Explain your answerA product is ordered once each year, and the reorder point without safety stock (dL) is 100 units. Inventory carrying cost is $10 per unit per year, and the cost of a stockout is $50 per year. Given the following demand probabilities during the reorder period, how much safety stock should be carried? DEMAND DURING REORDER PERIOD PROBABILITY 0 .1 50 .2 ROP 100 .4 150 .2 200 .1
- An electronics retailer sells laptops at a steady rate of 7,500 per quarter. It costs the manufacturer $350 tomake each laptop, and they charge $400/laptop to the retailer. The manufacturer produces the laptop at asteady rate that matches demand, and incurs a fixed cost of $2,800 to fulfill each retail order. Both theretailer and the manufacturer have an annual holding cost percentage of 20%. The retailer places 10orders with the laptop manufacturer each quarter (which it determined from an EOQ calculation). Whatare the retailer’s and manufacturer’s costs under this current setup, as well as the total supply chain cost?An electronics retailer sells laptops at a steady rate of 7,500 per quarter. It costs the manufacturer $350 tomake each laptop, and they charge $400/laptop to the retailer. The manufacturer produces the laptop at asteady rate that matches demand, and incurs a fixed cost of $2,800 to fulfill each retail order. Both theretailer and the manufacturer have an annual holding cost percentage of 20%. The retailer places 10orders with the laptop manufacturer each quarter (which it determined from an EOQ calculation). Whatare the retailer’s and manufacturer’s costs under this current setup, as well as the total supply chain cost?What quantity discount should the manufacturer offer the retailer in order to minimize the total supplychain costs? Under this quantity discount, what are the new retailer and manufacturer costs? Does theretailer choose to use the quantity discount? PLEASE SHOW ALL CALUCALTIONS/EXCEL MODELParasol Systems sells motherboards for personal computers. For quantities upthrough 25, the firm charges $350 per board; for quantities between 26 and 50,it charges $315 for each board purchased beyond 25; and it charges $285 eachfor the additional quantities over 50. A large communications firm expects torequire these motherboards for the next 10 years at a rate of at least 140 peryear. Order setup costs are $30 and holding costs are based on an 18 percentannual interest rate. What should be the size of the standing order?
- I need a detailed explanation on how to solve this problem: A paint shop implements an inventory policy on its stock of white paint, which costs the store $6 per can. Monthly demand for cans of white paint is normal with mean 28 and standard deviation 8. The replenishment lead time is 14 weeks. Excess demand is backordered, but costs $10 per back ordered can in labor and loss of goodwill. There is a fixed cost of $15 per order, and the holding cost is based on 30% interest rate per annum. In your computations, assume 4 weeks per month. - Write down the model name and parameters. - What are the optimal lot size and reorder points for white paint (include the formulas)? - What is the optimal safety stock (include the formula)? *** Suppose the paint shop from the above problem adopts a service level policy. - What are the optimal lot size and reorder points for white paint, such that 90% of the cycles are filled without backordering (include all formulas)? - What is the fill rate…Mo. A distributor of computer monitors purchases the monitors from an overseas supplier under a continuous review system. The average demand for a popular computer monitor is normally distributed with a mean of 50 units a day and a standard deviation of 10 units a day. It costs $75 to process each order and there is a 16 day lead time. The holding cost for each monitor is $20 per year and the distributor wishes to maintain a 90% service level. The distributor operates 300 days in a year. The distributor would like to use a periodic review inventory system to manage their inventory. Use the information in Scenario 9.15. What is the standard deviation of demand over the protection interval? less than or equal to 30 units greater than 40 units but less than or equal to 50 units greater than 50 units greater than 30 units but less than or equal to 40 unitsA distributor of computer monitors purchases the monitors from an overseas supplier under a continuous review system. The average demand for a popular computer monitor is normally distributed with a mean of 50 units a day and a standard deviation of 10 units a day. It costs $75 to process each order and there is a 16 day lead time. The holding cost for each monitor is $20 per year and the distributor wishes to maintain a 90% service level. The distributor operates 300 days in a year. The distributor would like to use a periodic review inventory system to manage their inventory. Use the information in Scenario 9.15. What is the target inventory level needed to achieve a 90% service level? greater than 1250 units but less than or equal to 1500 units less than or equal to 1000 units greater than 1000 units but less than or equal to 1250 units greater than 1500 units
- A Mercedes dealer purchases vehicles for $20,000. The annual holding cost is estimated to be 25% of the dollar value of inventory. The dealer sells an average of 500 cars per year. He believes that demand is backlogged, but estimates that if he is short one car for one year, he will lose $20,000 in future profits. Each time the dealer places an order for cars, the ordering cost amounts to $10,000. What is the (s, Q) ordering policy that results in a 90% CSL?Under the last-in, first-out (LIFO) inventory valuation method, a price index for inventory must be established for tax purposes. The quantity weights are based on year-ending inventory levels. Unit Price ($) Product EndingInventory Beginning Ending A 500 0.15 0.19 B 50 1.40 1.80 C 100 4.50 4.20 D 60 12.00 13.60 Use the beginning-of-the-year price per unit as the base-period price and develop a weighted aggregate index for the total inventory value at the end of the year. (Round your answer to the nearest integer.) I = ?? What type of weighted aggregate price index must be developed for the LIFO inventory valuation? -Paasche index -Laspeyres IndexGiven scenario A hospital is administering a polio vaccine (“polio drops”) to children under the age of 5 in Mexico. It costs the hospital $2 to purchase one shot, and they charge $3 for administering it to a child. Unused vaccines are destroyed. The hospital management needs to decide the number of vaccines to be ordered. Since the hospital has been administering these shots for the last 6 years (24 quarters), they have been able to compile the demand for the vaccine. Determine the optimal service level and optimal order quantity, for the vaccine. Quarter Demand 1 15 2 18 3 21 4 15 5 17 6 22 7 20 8 16 9 22 10 18 11 25 12 15 13 26 14 29 15 16 16 30 17 17 18 25 19 18 20 16 21 19 22 23 23 20 24 15