Week Price/lb 1234 6 6.2 6.65 5.55 Parameters Current Inventory (pounds) 20,000 Storage Capacity (pounds) 100,000 Required Ending Inventory (pounds) 25,000.00 Sorage Cost per pound per week $0.15
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1) How many pounds of shrimp should be brought in four weeks if Atlantic Seafood wants to maximize profit?
2) How many pounds of shrimp should be sold in four weeks if Atlantic Seafood wants to maximize profit?
3) What is the total profit for Atlantic Seafood if they follow the optimal solution?
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- Pedro sells port wine for $36 per bottle. His fixed costs are $1,430. Variable costs are $11 per bottle. If fixed costs increase by $500, how many bottles of Port must he sell to breakeven, using new recycled glass which costs $2/bottle more?How might revenue management be applied to (a) a professional firm (e.g., consulting), (b) a restaurant, and (c) a golf course? What rate fences would you use and why?explain how the analysis would change if office space were in high demand.
- As a logistics specialist, you are responsible for meeting customer demand. One of your customers places orders for you to supply four products by the end of October. You have limited capacity for raw material and other facilities. You are required to satisfy customer demand by manufacturing the products and/or buying from a supplier. After consulting with the production department, you obtained the following information. Product A Product B Product C Product D Order quantity 2000 3500 1500 2500 Hours required on machine X per unit 2 4 5 3 Hours required on machine Y per unit 4 3 6 2 Raw material in kilos 5 1 4 6 Time needed for Packaging per unit 36 minutes 30 minutes 45 minutes 24 minutes Available monthly hours per month: 8,000 on machine X, 6000 on machine Y, and 3,000 hours for packaging. Purchased items from your supplier are already packaged. Available raw material per month: 5,000 kilos…Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows the following inventory investment by category: raw materials, $3,129,500; work-in-process, $6,237,000; and finished goods, $2,686,500. This year’s cost of goods sold will be about $32.5 million. Assuming 52 business weeks per year, express total inventory asa. Weeks of supplyb. Inventory turnsSubject: Logistic management Q): calculate inventory turn over ratio, Where sales is 2,000,000COGS is 65% of sales And average inventory is 125,435 What will be inventory ratio in days and weeks
- The Quality Hotel has 309 rooms. On December 10th they sold 265 rooms. In addition, they had 1 comp. Total room revenue for the day was $50,080. On this day there were 4 rooms out of inventory (OOI) due to renovations. Calculate the following for December 10th, carrying your final answers out to the 100th place: Occupancy Percentage ADR (Average Daily Rate) RevPAR (Revenue per Available Room)1. The Kintampo Tourist Resort (KTR) is one of Ghana’s best holiday centers and sells a special type of souvenir called Expensive. As you might expect, the demand for Expensive is highly seasonal as tourist centers exhibit a highly seasonal attraction pattern, with peaks during the summer months. The following forecasts are available for Expensive.Inventory carrying cost = GH¢3 per piece per quarter Production per employee = 1000 piece per quarter Regular workforce = 50 workersCost of regular production = GH¢50 per piece Hiring cost per employee = GH¢75Firing cost per employee = GH¢100 The management of KTR does not wish to use Level production nor Chase Demand but wants to adopt one of the following strategies:Strategy I: Produce 71,000 pieces in Quarter 1, Produce 151,000pieces in Quarter 2, Produce 200,000 pieces in Quarter 3,and Produce 30,000 pieces in Quarter 4.Strategy II: Produce 51,000 pieces in Quarter 1, Produce 161,000pieces in Quarter 2, Produce 210,000 pieces in Quarter…Sapphire Aerospace operates 52 weeks per year, and its cost of goods sold last year was $6,500,000. The firm carries eight items in inventory: four raw materials, two work-in-processitems, and two finished goods. Table 12.3 shows last year’s average inventory levels for these items, along with their unit values.a. What is the average aggregate inventory value?b. How many weeks of supply does the firm have?c. What was the inventory turnover last year?
- The Bawl Corporation supplies alloy ball bearings to automanufacturers in Detroit. Because of its specialized manu-facturing process, considerable work-in-process and rawmaterials are needed. The current inventory levels are$2,470,000 and $1,566,000, respectively. In addition, fin-ished goods inventory is $1,200,000 and sales (at cost) forthe current year are expected to be about $48 million. Ex-press total inventory asa. Weeks of supplyb. Inventory turnsDemand for walnut fudge ice cream at the Sweet Cream Dairy can be approximated by a normaldistribution with a mean of 21 gallons per week and a standard deviation of 3.5 gallons per week.The new manager desires a service level of 90 percent. Lead time is two days, and the dairy isopen seven days a week. (Hint: Work in terms of weeks.)a. If an ROP model is used, what ROP would be consistent with the desired service level? Howmany days of supply are on hand at the ROP, assuming average demand?Demand for walnut fudge ice cream at the Sweet Cream Dairy can be approximated by a normaldistribution with a mean of 21 gallons per week and a standard deviation of 3.5 gallons per week.The new manager desires a service level of 90 percent. Lead time is two days, and the dairy isopen seven days a week. (Hint: Work in terms of weeks.)a. If an ROP model is used, what ROP would be consistent with the desired service level? Howmany days of supply are on hand at the ROP, assuming average demand?b. If a fixed-interval model is used instead of an ROP model, what order size would be needed forthe 90 percent service level with an order interval of 10 days and a supply of 8 gallons on handat the order time? What is the probability of experiencing a stockout before this order arrives?c. Suppose the manager is using the ROP model described in part a. One day after placing anorder with the supplier, the manager receives a call from the supplier that the order will bedelayed because of problems at…