Fixed-order-interval. Hunilabliver orders a number of chemicals from the same supplier every 30 days. Lead time is five days. the assistant production manager of the lab must determine how much of one of these chemicals to order. a check of stock revealed that eleven 25-milliliter (ml) jars are on hand. Daily usage of the chemical is approximately normal with a mean of 15.2 ml per day and a standard deviation of 1.6 ml per day. the desired service for tis chemical is 95 percent. * 14.64 ml 16.62 ml 15.62 ml 273.62 ml 272.62 ml 272.64 ml How many jars of the chemical should be ordered? What is the average amount of safety stock of the chemical?

Fixed-order-interval. Hunilabliver orders a number of chemicals from the same supplier every 30 days. Lead time is five days. the assistant production manager of the lab must determine how much of one of these chemicals to order. a check of stock revealed that eleven 25-milliliter (ml) jars are on hand. Daily usage of the chemical is approximately normal with a mean of 15.2 ml per day and a standard deviation of 1.6 ml per day. the desired service for tis chemical is 95 percent. * 14.64 ml 16.62 ml 15.62 ml 273.62 ml 272.62 ml 272.64 ml How many jars of the chemical should be ordered? What is the average amount of safety stock of the chemical?

Name: Fixed-order-interval. Hunilabliver orders a number of chemicals from
Uploaded: 2024-03-20T06:57:05.000Z
Channel: Bartleby
Description: Fixed-order-interval. Hunilabliver orders a number of chemicals from the samesupplier every 30 days. Lead time is five days. the assistant production managerof the lab must determine how much of one of these chemicals to order. a checkof stock revea

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

Michael’s Offi ce Supply (MOS) sells offi ce furniture,equipment, and supplies. Th is week the company has received 50customer orders. Each order has an average of fi ve line items. Th eaverage dollar amount of each order is $1200. MOS was able toship 47 of the 50 orders on schedule.(a) Using the percentage of orders shipped on time, calculatethe customer service level.(b) If Michael’s calculates customer service level by using thepercentage of line items shipped on schedule, how manyline items must be shipped to achieve the same customerservice level calculated in part (a)?(c) If Michael’s calculates customer service level by thepercentage of dollar volume shipped, how many dollarsof product must be shipped to achieve the same customerservice level calculated in part (a)?(d) What factors determine the customer service levelmeasure that MOS should use?
University of Florida football programs areprinted 1 week prior to each home game. Attendance averages90,000 screaming and loyal Gators fans, of whom two-thirdsusually buy the program, following a normal distribution, for$4 each. Unsold programs are sent to a recycling center thatpays only 10 cents per program. The standard deviation is5,000 programs, and the cost to print each program is $1.a) What is the cost of underestimating demand for eachprogram?b) What is the overage cost per program?c) How many programs should be ordered per game?d) What is the stockout risk for this order size?
A National chain of type fitters stocks a popular type for which the following information is available. The company operates on 50-week year and Normally operates from Monday to Friday only. Average usage 140 types per day Minimum usage 90 types per day Maximum usage 175 types per day Lead time 10 to 16 days Reorder quality 3000 Cost per types n$1500 Holding cost per unit 3% of unit cost Ordering cost per year n$75.50 Calculate the ordinary coat based on the current reorder quantity?
What were the early ‘order winners’ for Dell during its early growth? How would the older customers of Dell react to seeing a Dell computer in a retail store today?
Which among the following methods assigns costs on the assumption that the inventory quantities on hand represent those last purchased or produced? Select one alternative: First-in, first-out Weighted-average cost Specific identification Last-in, first-out
As with other products, Fisher-Price faces the decision of how many Weather Teddy units to order for the comingholiday season. Members of the management team suggested order quantities of 15,000, 18,000, 24,000, or28,000 units. The wide range of order quantities suggested indicates considerable disagreement concerning themarket potential. The product management team asks you for an analysis of the stock-out probabilities forvarious order quantities, an estimate of the profit potential, and to help make an order quantity recommendation.Fisher-Price expects to sell Weather Teddy for $24 based on a cost of $16 per unit. If inventory remains afterthe holiday season, Fisher-Price will sell all surplus inventory for $5 per unit. After reviewing the sales historyof similar products, Fisher-Price’s senior sales forecaster predicted an expected demand of 20,000 units with a.95 probability that demand would be between 10,000 units and 30,000 units. Question: One of Fisher-Price’s managers felt…
Inventory order is placed when O a. Only when projected or actual stocks on hand is below zero O b. None of these O c. Only when projected or actual on hand stocks are higher than the safety stock. O d. Only when projected or actual on hand stocks value is positive.
As the Manager of Branson’s Department Store, you are responsible for ensuring that reorder quantities for the various items have been correctly established. You decide to test one item and choose product Z. A continuous review inventory policy has been used, so you examine this as well as other records and come up with the following data: Cost per unit $35 Holding cost 20 percent of unit cost Average daily demand 10 units Ordering cost $30 per order Standard deviation of daily demand 3 units Delivery lead time 4 days Because customers generally do not wait but go elsewhere, you decide on a service probability of 90 percent. Assume that Branson’s Department Store operates 320 days per year. [What is the annual demand (D)? Determine the optimal order quantity, Q*. Determine the reorder point (R) if demand is constant. Determine the reorder point (R) if demand is varies.
Wholemark is an Internet order business that sells one popular New Year’s greeting card once a year. The cost of the paper on which the card is printed is $0.05 per card, and the cost of printing is $0.15 per card. The company receives $2.15 per card sold. Because the cards have the current year printed on them, unsold cards have no salvage value. Its customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each ofthe four regions is normally distributed with a mean of 2,000 and a standard deviation of 500. (Assume these four are independent.) What is the optimal production quantity for the card?
Charlie's Pizza orders all of its pepperoni, olives, anchovies, and mozzarella cheese to be shipped directly from Italy. An American distributor stops by every four weeks to take orders. Because the orders are shipped directly from Italy, they take three weeks to arrive. Charlie's Pizza uses an average of 180 pounds of pepperoni each week, with a standard deviation of 28 pounds. Charlie's prides itself on offering only the best-quality ingredients and a high level of service, so it wants to ensure a 98 percent probability of not stocking out on pepperoni. Assume that the sales representative just walked in the door and there are currently 450 pounds of pepperoni in the walk-in cooler. How many pounds of pepperoni.
Observe the chart below that reflects an inventory of farm animals. What changes would be appropriate? Animal Farm Inventory 45 40 35 30 25 20 15 10 Horses Cows Chickens Geese Pigs Select one or more: а. A pie chart would be better b. Change all the bars to gray. С. Sort the bars by alphabetical order of the animals O d. Sort the bars according to value of inventory count e. Change the chart to a line chart
Please do not give solution in image format thanku The purchasing department can reduce order quantity and work wtih suppliers to deliver purchases items more frequently. This should lower total inventory. Make option Buy option fixed cost $125,000 Fixed Cost $5,000 Variable Cost $15 Variable Cost $17 Find the break-even quantity and the total cost at the break-even point.