After a merger, Old Framkranz found himself the only inventory clerk left at Allied Breakwater Company (ABC). The merger had left ABC with only 10 parts in inventory, and he'd been told to manage them as effectively as possible. Each part was to be reviewed once a week. (ABC worked a very exhausting five-day week.) Framkranz knew inventory carrying cost was 20 percent per dollar of cost per year. He also knew, to really manage a part's inventory well, he would have to spend a full day on the review, but he could do a reasonably good job in half a day. Even the most cursory review would require one-quarter day per part, however. Files for the 10 parts contain the following information. How should Framkranz schedule the review of the parts?

After a merger, Old Framkranz found himself the only inventory clerk left at Allied Breakwater Company (ABC). The merger had left ABC with only 10 parts in inventory, and he'd been told to manage them as effectively as possible. Each part was to be reviewed once a week. (ABC worked a very exhausting five-day week.) Framkranz knew inventory carrying cost was 20 percent per dollar of cost per year. He also knew, to really manage a part's inventory well, he would have to spend a full day on the review, but he could do a reasonably good job in half a day. Even the most cursory review would require one-quarter day per part, however. Files for the 10 parts contain the following information. How should Framkranz schedule the review of the parts?

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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