) What is the optimal order quantity and the minimum annual cost for Bell Computers to order, purchase, and hold these integrated chips? The optimal order quantity after the change in pricing structure is units (enter your response as a whole number). The total annual cost for Bell computers to order, purchase, and hold the integrated chips is $ (round your response to the nearest whole number).
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- The manager of a large electronics store wants to begin stocking a universal TV remote control device. Expected daily demand is 25 units (250 working days a year). The remote controls can be purchased from either supplier A or supplier B. Their price lists are as follows: Supplier A Supplier B Quantity Unit price Quantity Unit price 1-199 $14 1-149 $14.1 200-499 $13.8 150-349 $13.9 500+ $13.6 350+ $13.7 Ordering cost is $40 per order and annual holding cost is 25 percent of unit price. Lead time for either supplier is 10 days. Which supplier should be chosen and what kind of inventory ordering policy should be adopted?Grand Styles Furniture Store is overstocked in (has excess inventory of) one type of chair. Based on the Price-Demand Relationship, what advice would you provide to the store manager to deal with this problem? Fancy Fashions sells jeans for $59 and sweaters for $39. To increase sales of jeans and sweaters, Fancy Fashions promotes this Product Price Bundle: “Buy a pair of jeans and a sweater for $98”. Will this Product Price Bundle will work well to increase the sales of jeans and sweaters?You are a purchasing manager in charge of stocking a certain type of product. Weekly demand for these products is normally distributed, with a mean of 100 and a standard deviation of 50. Holding costs are 25%, and you must hold a level of inventory corresponding to a cycle service level of 95%. You are faced with two suppliers, QUALITY Products and BEST Products, who offer the following terms. QUALITY sells the products for €5,000 with a minimum order of 100, and a lead time of 1 week with a standard deviation of 0.1 week. BEST sells the transformer for €4,800, has a minimum batch of 1,000, a lead time of 5 weeks, and a lead-time standard deviation of 4 weeks. If you could use both suppliers, how would you structure your orders? Describe the dimensions of supplier performance that affect total cost
- Randall's offers the following price discounts. The demand is 2000 annually. Set up cost is $250. Holding cost is 10% of the price per unit per year. 1-500 $10 per unit 501-1000 $9.95 per unit 1001-1500 $9.90 per unit 1501-2000 $9.85 per unit What is the optimal quantity to produce?Glorious Gadgets is a retailer of astronomy equipment. They purchase equipment from a supplier and then sell it to customers in their store. The function C(x)=1.5x+12500x^−1+5000 models their total inventory costs (in dollars) as a function of x the lot size for each of their orders from the supplier. The inventory costs include such things as purchasing, processing, shipping, and storing the equipment.A) What lot size should Glorious Gadgets order to minimize their total inventory costs? (NOTE: your answer must be the whole number that corresponds to the lowest cost.) B) What is their minimum total inventory cost?The annual demand for a product is 15,200 units. The weekly demand is 292 units with a standard deviation of 80 units. The cost to place an order is $33.50, and the time from ordering to receipt is two weeks. The annual inventory carrying cost is $0.10 per unit. The reorder point is 730. Suppose the production manager is asked to reduce the safety stock of this item by 45 percent. If she does so, what will the new service probability be? (Use Excel's NORMSDIST() function to find the correct probability for your computed Z-value. Round "z" value to 2 decimal places and final answer to 1 decimal place.) *The answer is not 28% or 42% or 58% or 71% or 86.6% or 90%
- The following data is extracted from the books of Gulf company, Fixed cost OMR 12.000. Selling price OMR.8 per unit and variable cost OMR 2 per unit. How many units will be sold in excess of the breakeven point if Gulf Company wishes to make a profit of OMR 6.000 ? a. 1,000 units b. 2,000 units C. 1.500 units d. 3.000 unitsFor one of the quick selling portable smoothie machines (model G), the Long Last Appliance Store needs 1,300 pieces a month and each time a shipment is shipped, it has a set order placement, transportation and delivery costs for $3,000. Each computer costs the corporation $550 and its holding costs are 12 percent. The business has two other smoothie machine versions that are both common with customers. Assess the company's material control strategy whether lots are purchased and separately shipped for each model by deciding the following: The best order size The cycle inventory The volume of orders annually The monthly buying and maintenance costs The average inventory expense Short state reasoning for the strategy (a-e)Bold Vision, Inc., must purchase toner from a local supplier. The company does not wish to carry raw material inventory and therefore only purchases enough toner to satisfy the demand of each individual batch of cartridges. Each toner cartridge requires one pound of toner. The raw material supplier offers Bold Vision a purchase discount of $2.00 per pound if the company orders at least 2,000 pounds at a time. Should Bold Vision accept this offer and alter its toner purchase quantity?
- The bookstore at Tech purchases jackets emblazoned withthe school name and logo from a vendor. The vendor sellsthe jackets to the store for $38 apiece. The cost to the bookstore for placing an order is $120, and the annual car-rying cost is 25% of the cost of a jacket. The bookstore manager estimates that 1700 jackets will be sold during theyear. The vendor has offered the bookstore the followingvolume discount schedule: Order Size Discount1–299 0%300–499 2%500–799 4%800 5% What is the bookstore’s optimal order quantity, given thisquantity discount information?The purchasing manager for the Atlantic Steel Company must determine a policy for orderingcoal to operate 12 converters. Each converter requires exactly 5 tons of coal per day to operate,and the firm operates 360 days per year. The purchasing manager has determined that the orderingcost is $80 per order and the cost of holding coal is 20% of the average dollar value of inventoryheld. The purchasing manager has negotiated a contract to obtain the coal for $12 per ton forthe coming year. If 5 days of lead time are required to receive an order of coal, how much coal should be on hand when an order is placed?Hayes electronics assumed with certainty that the ordering cost is $450 per order and the inventory carrying cost is $170 per unit per year. However, the inventory model parameters are frequently only estimates that are subject to some degree of uncertainty. Consider four cases of variation in the model parameters as follows: (a) both ordering cost and carrying cost are 10% less that originally estimated, (b) both ordering cost and carrying cost are 10% higher than originally estimated, (c) ordering cost is 10% higher and carrying cost is 10% lower than originally estimated, and (d) ordering cost is 10% lower and carrying cost is 10% higher than originally estimated. Determine the optimal order quantity and total inventory cost for each of the four cases. Prepare a table with values from all four cases and compare the sensitivity of the model solution to changes in parameter values.