Average demand = μ = 350 Standard deviation of demand during lead time = OLT = 10 kits 5% stockout policy (service level = 95%) 1.1. What reorder point should be?
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- Demand for a popular athletic shoe is nearly constant at 1600 pairs per week for a regional division of a national retailer. The cost per pair is $64. It costs $75 to place an order, and annual holding costs are charged at 25% of the cost per unit. The lead time is 3 weeks. One year has 52 weeks.a. What is the Economic Order Quantity?b. What is the reorder point?c. What is the cycle time?d. What is the total annual cost?Annual demand 2,400 units Unit price (`) 2.40 Ordering cost (`) 4.00 Storage cost 2% p.a. Interest rate 10% p.a. Lead time ½ month Calculate EOQ, reorder level and total annual inventory cost. How much does the total inventory cost vary if the unit price is changed to $ 5? Typed and correct answer please. I ll rate accordingly.asap!! A manager of an inventory system believes that inventory models are important decision making aids. Even though often using an EOQ policy, the manager never considered a backorder model because of the assumption that backorders were “bad” and should be avoided. However, with upper management’s continued pressure for cost reduction, you have been asked to analyze the economics of a backorder policy for some products that can possibly be backordered. For a specific product with D = 1200 units per year, Co = 160, = 4, and = 25, what is the difference in total annual cost between the EOQ model and the planned shortage or backorder model? If the manager adds constraints that no more than 25% of the units can be backordered and that no customer will have to wait more than 18 days for an order, should the backorder inventory policy be adopted? Assume 300 working days per year.
- Daily demand for product sample kits is normally distributed with a mean of 35 units and a standard deviation of 4. Supply is virtually certain with a lead time of 9 days. The cost of placing an order is $20, and annual carrying costs for one kit is 25 percent. The price of one kit is $12.50. Assume a year has 365 days.If a 99% service level is desired, what is average inventory on hand? If demand had no variation, what would the reorder point be?Please complete the problem usinf EXCEL, Show ALL formulas Demand for a popular athletic shoe is nearly constant at 800 pairs per week for a regional division of a national retailer. The cost per pair is $54. It costs $72 to place an order, and annual holding costs are charged at 22% of the cost per unit. The lead time is two weeks. a. What is the EOQ? b. What is the reorder point? c. What is the cycle time? d. What is the total annual cost?G-Tech’s monthly demand is 1000 units. You are in charge of the inventory department. You know that the holding cost is $100 per unit and ordering cost is $4,000 per order. What is the EOQ? 2. What is the number of orders per year? 3. What is the annual holding cost? (not Total cost, just the holding cost portion! 4. If we decide to order a quantity of 1000 units instead of the EOQ, what happens to the annual holding cost? (Just tell me in words – could be 3 short words!)
- Please do not give solution in image format thanku Daily demand for Chandler's Footballs varies according to the normal distribution with a mean of 195 and a standard deviation of 12. The lead time is 3 days. If Chandler wants a 98.5% level of service, what should his reorder point be?Annual demand 8,400 unitsUnit price (`) 2.4Ordering cost (`) 4.0Storage cost (`) 2%Interest rate 10% p.a.Lead time 1/2 monthCalculate EOQ, Reorder level and total annual inventory cost. How much does the total inventoryDemand for a popular athletic shoe is nearly constant at 1000 pairs per year for a regional division of a national retailer (open every day, working days=365). The cost per pair is $54. It costs $72 to place an order, and annual holding costs are charged at 22% of the cost per unit. The lead time is two weeks (14 days). Show steps to find: a.What is the EOQ? b.What is the reorder point? c.How many orders per year?d.What is the total annual cost?
- Petromax Enterprises uses a continuous review inventorycontrol system for one of its SKUs. The following informationis available on the item. The firm operates 50 weeks in a year.Demand = 50,000 units>yearOrdering cost = $35>orderHolding cost = $2>unit>yearAverage lead time = 3 weeksStandard deviation of weekly demand = 125 unitsa. What is the economic order quantity for this item?b. If Petromax wants to provide a 90 percent cycle-servicelevel, what should be the safety stock and the reorder point?Barbara Flynn is in charge of maintaining hospital supplies at General Hospital. During the past year, themean lead time demand for bandage BX-5 was 60 (and wasnormally distributed). Furthermore, the standard deviationfor BX-5 was 7. Ms. Flynn would like to maintain a 90%service level. a) What safety stock level do you recommend for BX-5?b) What is the appropriate reorder point?Bart’s Barometer Business (BBB) is a retail outlet that deals exclusively with weather equipment. Currently BBB is trying to decide on an inventory and reorder policy for home barometers. These cost BBB $60 each and demand is about 1200 per year distributed fairly evenly throughout the year. Reordering costs are $50 per order and holding costs are figured at 20% of the cost of the item. BBB is open 300 days a year (6 days a week and closed two weeks in August). Lead time is 60 working days. a.Develop a total cost model for this system. b. What is the optimal reorder quantity? c. What is the cycle time?