The optimal value of EOQ for the line of the greeting cards. Introduction: Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

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Answer 1

Question

Chapter 4, Problem 41AP

(a)

Summary Introduction

To determine:The optimal value of EOQ for the line of the greeting cards.

Introduction:

Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

(b)

Summary Introduction

To determine:The additional annual cost resulting from using the wrong production lo size.

Introduction: Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

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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%

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Answer 2

Question

Chapter 4, Problem 41AP

(a)

Summary Introduction

To determine:The optimal value of EOQ for the line of the greeting cards.

Introduction:

Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

(b)

Summary Introduction

To determine:The additional annual cost resulting from using the wrong production lo size.

Introduction: Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

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Answer 3

Question

Chapter 4, Problem 41AP

(a)

Summary Introduction

To determine:The optimal value of EOQ for the line of the greeting cards.

Introduction:

Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

(b)

Summary Introduction

To determine:The additional annual cost resulting from using the wrong production lo size.

Introduction: Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

Expert Solution & Answer

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Answer 4

Question

Chapter 4, Problem 41AP

(a)

Summary Introduction

To determine:The optimal value of EOQ for the line of the greeting cards.

Introduction:

Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

(b)

Summary Introduction

To determine:The additional annual cost resulting from using the wrong production lo size.

Introduction: Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

Expert Solution & Answer

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Answer 5

Chapter 4, Problem 41AP

(a)

Summary Introduction

To determine:The optimal value of EOQ for the line of the greeting cards.

Introduction:

Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

(b)

Summary Introduction

To determine:The additional annual cost resulting from using the wrong production lo size.

Introduction: Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

Answer 6

Chapter 4, Problem 41AP

(a)

Summary Introduction

To determine:The optimal value of EOQ for the line of the greeting cards.

Introduction:

Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

Answer 7

Chapter 4, Problem 41AP

(a)

Summary Introduction

To determine:The optimal value of EOQ for the line of the greeting cards.

Introduction:

Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

Answer 8

(b)

Summary Introduction

To determine:The additional annual cost resulting from using the wrong production lo size.

Introduction: Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

Answer 9

(b)

Summary Introduction

To determine:The additional annual cost resulting from using the wrong production lo size.

Introduction: Economic order quantity refers to the approach which are used to evaluate flow and volume of order needed to fulfill consumers demand while reducing the cost per order.Such tool is used by the organization to handle andmanage operations and logistic operations.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 4.4 - Prob. 1P Ch. 4.4 - Prob. 2P Ch. 4.4 - Prob. 3P Ch. 4.4 - Prob. 4P Ch. 4.4 - Prob. 5P Ch. 4.4 - Prob. 6P Ch. 4.4 - Prob. 7P Ch. 4.4 - Prob. 8P Ch. 4.4 - Prob. 9P Ch. 4.5 - Prob. 10P

Solution Summary: The author explains how to determine the optimal value of EOQ for the line of greeting cards.

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