8 Question #2 - "Hilbert Antiquities" sellsa designer series of "Hamburg Crafted"tables. A consultant just completed astudy that they plan to implement onJanuary first for the next calendar year.For one of their best sellers theconsultant indicated that the demandwas 140 units per month, the monthlyholding costs were $1.50 per unit andordering costs were $225 per order.Assuming nothing changes for nextyear what is the optimum economicorder quantity for 2023 for this table?Next, assume the demand increases to170 units per month. What is the newEOQ? Show your work for full credit.(Hint: see Chapter 11 "The EconomicOrder Quantity" found in Section 11.3)

Given, Monthly demand = 140 Annual demand D = 140*12 = 1680 units Holdings costs H = $1.5 Order…

Answered: Question #2 - "Hilbert Antiquities"…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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QUESTION 1 The sales of Vintage company is 80,000 units per year. The percentage of storage is 20 percent of inventory value. The purchase price is RM20 per unit and the ordering cost of each order is RM1,000. Lead time is 2 weeks. Assume that there are 52 weeks in your calculation. Pleaase Provide Calculation Step Calculate: a) EOQ b) Total Carrying Cost c) Total Ordering Cost d) Total Inventory Cost e) Reorder point f) How many placements of order per year?
Q3. What is inventory management? Explain in brief 4 functions of inventory management.
Q4. What are the various types of inventory? Explain each type in brief.
Question 31 Firm B's demand for a product is 10 units per month. Its supplier charges an ordering cost of $5 per order and $10 per unit with a 10% discount for orders of 25 units or higher. Firm B incurs a 30% annual holding cost. How much does Firm B save each year (including purchasing, ordering, and holding costs) if it purchases enough units to get the discount? Group of answer choices $2.25 $6.00 $120.00 $122.25
Question 15 Discontinuity created by new technology a.shows the amount of effort required to measure new technology B.shows the gap between the old technology and new technology C.shows the amount of capital required to implement new technology D.shows the amount of effort required to use old technology QUESITON 16 Quantity discount model is an inventory management model where A.The cost per unit decreases as production quantities increase B.Used to determine the optimal order quantity C.The price per unit decreases as order quantities decrease D.Used to determine the economic order quantity Question 17 In strategy formulation, which of the following processes answers the question "How will the firm compete"? A.Deploying the strategy B. Defining the primary tasks C.Positioning the frm D.Determining the order winners and order qualifers
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Required information Skip to question George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company’s products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Week Units Total Etching Cost 1 9 $ 21 2 12 25 3 13 30 4 9 20 5 11 25 6 18 34 72 $ 155 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y = a + bX.
QUESTION 3 Given the following inventory information, construct an (a) ABC analysis by annual dollar usage, (b) ABC analysis by current inventory value, and (c) an ABC inventory matrix. Is the firm stocking the correct inventories? Item Number Unit Cost Annual Usage Phy Inv B8867 6 100 8,000 J1252 5.25 6,500 120 K9667 0.88 4,000 1,000 L2425 1 1,500 375 M4554 5.5 2,000 500 T6334 70 500 800 W9856 0.75 800 20,000 X2215 1.5 8,000 2,000 Y3214 32 1,000 500 Y6339 4 3,500 125 Calculate the annual usage for K9667.
Question1: A business wants to classify its inventory items in order to determine its inventory policy. The table contains information about the inventory items in the business. Accordingly, using the "ABC" analysis, determine the stock groups of the enterprise.1-) What percentage of the total inventory items and total inventory costs will the A group inventory items constitute?2-) What percentage of the total inventory items and total inventory costs will the B group inventory items constitute?3-) What percentage of the total inventory items and total inventory costs will the C group inventory items constitute?
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