Firelands Electronics purchases certain electronic components at $10 per unit from asupplier and resell them for a profit. The cost of handling each purchase order is about$50 per order, and the inventory cost per unit is 20% of the purchase cost plus $0.40for insurance per year. It takes about 6 working days for each order to be delivered tothe store. Based on past sales record, they can sell about 1445 units evenly everymonth. The store is open 300 days every year.(а)Determine the EOQ.(b)Find the annual holding cost at the EOQ.(c)Find the inventory size at which the store should reorder.(d)How many days are in between two consecutive order placements?(e)Produce a graph detailing the inventory change in time and reordering point.

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Answered: Firelands Electronics purchases certain…

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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X1=29000 X2=5 I need a step by step answer please (not on excel please)
As regard to customer data as well as data from transactions, the Amazon Go model is premised on hundreds of pictures being taken of every person entering and exiting the store. Amazon then stores these pictures for long enough to identify the products being purchased, before the images are deleted. Credit card information is captured at the point of registration for the app that is required to use the Amazon Go stores, and then credit and debit card information is captured when purchases are made. Further receipts are issued after purchases are made, and the system also records how long an individual has been shopping for (this is printed on the receipt). With a need to capture and store such large volumes of information that is both sensitive and personal to people, it is not surprising that many are concerned for the security of the information and the potential for the information to fall into the wrong hands. Amazon Go stores are in their infancy, and have not had to deal with any…
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Kaniri Global Imports (a retail store) sells artisan greeting cards. The owners search for localartists from around the world from whom to buy their greeting card inventory. The followinginformation is available to you for this problem:Demand/Sales = 110 cases of cards per yearOrdering or Setup Cost = $25 per orderCarrying Charge = 18% per yearUnit Cost = $150 per caseAnswer the following questions and be sure to show your computations. You can use whateversymbol you need for square root, if typing in Word.1. How many cases should be ordered at a time? (This number will be the EOQ). Computeto two decimal places. In reality they would round, but for this problem keep the twodecimal places.2. How many times should Kaniri order in a year? Do not answer in terms of how manydays or months, but rather how many times per year. Round your answer up to the nexthighest whole number.3. Answer all three:a. What is the annual cost of ordering the cards?b. What is the annual cost of carrying the…
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