Incorrect Question 10 In the EOQ model, what is the total annual purchasing cost if the optimal order quantity is 100, optimal number of orders per year is 5, and unit purchasing cost is $2. $40 $10 $250 $1,000
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- The EOQ model with quantity discounts attempts todetermine:a) the lowest amount of inventory necessary to satisfy acertain service level.b) the lowest purchase price.c) whether to use a fixed-quantity or fixed-period orderpolicy.d) how many units should be ordered.e) the shortest lead timeProblem #4. A certain type of computer costs P80,000 per unit, and the annual holding cost is 25% of the per-unit cost. Annual demand is 10,000 units, and the order cost is P12,000 per order. 1. What is the approximate economic order quantity (round off to nearest whole number)? 2. If because of inflation the ordering cost increase to P12,720 per order, by how much will the EOQ change (indicate if the change is an increase or decrease)?Q2) Groundz Coffee Shop uses 4 kgs of a specialty tea weekly; each kg costs $16. Carrying costs are $1 per kg per week because space is very scarce. It costs the firm $8 to prepare an order. Assume 52 weeks per year. How many kgs of tea should Groundz order at a time? What is total annual cost. How many orders should Groundz place annually. Q2) Groundz Coffee Shop uses 4 kgs of a specialty tea weekly; each kg costs $16. Carrying costs are $1 per kg per week because space is very scarce. It costs the firm $8 to prepare an order. Assume 52 weeks per year. How many kgs of tea should Groundz order at a time? What is total annual cost. How many orders should Groundz place annually.
- Economic Order Quantity and Reorder PointFind the economic order quantity and the reorder point, givenAnnual demand ( D )= 1, 000 unitsAverage daily demand ( d¯ ) = 1, 000 ∕365ordering cost ( S ) = $5 per orde rHolding cost ( H ) = $1.25 per unit per yearLead time ( L ) = 5 daysCost per unit ( C ) =$12.50What quantity should be ordered?If EOQ = 289 units, S = $100, and H = $1 per unit per month, what approx. annual demand (D) level would the EOQ model best fit? Pick the closest answer option. EOQ = Sq root of [(2D*S)/H] D = annual demand in units S = cost of placing 1 order; H = cost of holding 1 unit of that item in inventory for 1 year 3596 units 3540.00 units 5011 units 4510 unitsHenry Crouch’s law office has traditionallyordered ink refills 60 units at a time. The firm estimates thatcarrying cost is 40% of the $10 unit cost and that annualdemand is about 240 units per year. The assumptions of thebasic EOQ model are thought to apply.a) For what value of ordering cost would its action be optimal?b) If the true ordering cost turns out to be much greater thanyour answer to (a), what is the impact on the firm’s ordering policy?
- Forrest and Dan make boxes of chocolates for which the demand is uncertain. Forrest says, “That’s life.” On the other hand, Dan believes that some demand patterns exist that could be useful for planning the purchase of sugar, chocolate, and shrimp. Forrest insists on placing a surprise chocolatecovered shrimp in some boxes so that “You never know what you’ll get.” Quarterly demand (in boxes of chocolates) for the last 3 years follows: Quarter Year 1 Year 2 Year 3 1 2 3 4 3,000 1,700 900 4,400 3,300 2,100 1,500 5,100 3,502 2,448 1,768 5,882 Total 10,000 12,000 13,600 a. Use intuition and judgment to estimate quarterly demand for the fourth year.b. If the expected sales for chocolates are 14,800 cases for year 4, use the multiplicative seasonal method to prepare a forecast for each quarter of the year. Are any of the quarterly forecasts different from what you thought you would get in part (a)?Rick Jerz is attempting to perform an inventory analysison one of his most popular products. Annual demand for thisproduct is 5,000 units; ca rrying cost is $50 per unit per year; ordercosts for his company typically run nearly $30 per order; and leadtime averages I 0 days. (Assume 250 working days per year.)a) What is the economic order quantity?b) What is the average inventory?c) What is the optimal number of orders per year?d) What is the optimal number of working days between orders?e) What is the total annual inventory cost (carrying cost+ ordering cost)?t) What is the reorder poi nt?Genesis Company is a wholesaler. It purchases 60,000 units of Product X per month for sale to retailers. The cost of placing an order is P100. The cost of holding one unit of inventory for one year is P4. Note: Kindly input your answer with comma.Example: 10,000 Required: a. Compute the economic order quantity. b. How many orders would be placed under the EOQ policy? c. Compute the annual ordering cost for the EOQ. d. Compute the annual carrying cost for the EOQ. e. Compute the total inventory-related cost at the EOQ.
- Problem 3: You're a buyer for fictional Quality Kitchen Appliances. Thestore has a demand for 1,000 toasters ovens per year. The cost of each toaster oven is US$78. The ordering cost is US$100 per order. The holding cost is 40% of the cost of the oven per unit per year.a What is the optimal Order Quantity?b How many orders will be placed per year?c What is the total annual cost (in US dollars)?d If the holding cost decreases to 30% of the unit cost of the oven, what effect will it have on EOQ and the totalannual cost?Suppose that the EOQ is 100, average annual demand is1,000 units, and the lead time demand is a random variablehaving the distribution shown in Table 15.a What value of SLM1 corresponds to a reorder pointof 25?b If we wanted to attain a 95% value of SLM1, whatreorder point should we choose?c If we wanted an average of at most two stockouts peryear, what reorder point should we choose? Lead TimeDemand Probability10 16 15 14 20 14 25 112 30 14Basic EOQ. This type of problem can be recognized when annual demand (D), ordering cost (S), andholding or carrying cost per unit (H) are given. Use Formula 13–2 for order quantity, Formula 13–1for total cost, and D/Q for number of orders a year.A toy manufacturer uses approximately 32,000 silicon chips annually. The chips are used at asteady rate during the 240 days a year that the plant operates. Annual holding cost is $3 per chip, andordering cost is $120. Determine the following:a. The optimal order quantityb. The number of workdays in an order cycle
