Gainesville Cigar stocks Cuban cigars that have variable lead times because of the difficulty in importing the product. Lead time is normally distributed with an average of 6 weeks and a standard deviation of 2 weeks. Demand is also variable and normally distributed with a mean of 200 cigars per week and a standard deviation of 25 cigars. a. For a 90% service level, what is the ROP? b. What is the ROP for a 95% service level?
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Gainesville Cigar stocks Cuban cigars that have variable lead times because of the difficulty in importing the product. Lead time is
a. For a 90% service level, what is the ROP?
b. What is the ROP for a 95% service level?
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- Gainesville Cigar stocks Cuban cigars that have variable lead times because of the difficulty in importing the product: lead time is normally distributed with an average of 6 weeks and a standard deviation of 2 weeks. Demand is also a variable and normally distributed with a mean of 200 cigars per week and a standard deviation of 25 cigars.a) For a 90% service level, what is the ROP?b) What is the ROP for a 95% service level?c) Explain what these two service levels mean. Which is preferable?Alina Limited is a manufacturer of widgets orders components for use in manufacturing. The estimated demand for the components during the coming year is 15,000. Order costs are $100 per order; carrying costs are $12 per component. Using the economic order quantity model What is Alina Ltd’s optimum order quantity? If the supplier guarantees a three (3) day delivery on any order that is placed, What is the re-order point?Gainesville Cigar stocks Cuban cigars that have variable lead times because of the difficulty in importing the product: Lead time is normally distributed with an average of 4 weeks and a standard deviation of 2 weeks. Demand is also a variable and normally distributed with a mean of 150 cigars per week and a standard deviation of 25 cigars. Refer to the standard normal table for z-values. This exercise contains only parts a and b. a) For a 90% service level, what is the ROP? The reorder point is cigars (round your response to the nearest whole number).
- Gainesville Cigar stocks Cuban cigars that have variable lead times because of the difficulty in importing the product: Lead time is normally distributed with an average of 4 weeks and a standard deviation of 2 weeks. Demand is also a variable and normally distributed with a mean of 225 cigars per week and a standard deviation of 25 cigars. Refer to the standard normal table for z-values. This exercise contains only parts a and b. a) For a 95% service level, what is the ROP? The reorder point is 1645 cigars (round your response to the nearest whole number). b) What is the ROP for a 96% service level? The reorder point is cigars (round your response to the nearest whole number).H & K Electronic Warehouse sells a 12-pack of AAA batteries, and this is a very popular item. Demand for this is normally distributed, with an average of 50 packs per day and a standard deviation of 16. The average delivery time is 5 days, with a standard deviation of 2 days. Delivery time has been found to be normally distributed. A 96% service level is desired. What is the standard deviation of demand during the lead time? How much safety stock should be carried, and what should be the reorder pointGainesville Cigar stocks Cuban cigars that have variable lead times because of the difficulty in importing the product: Lead time is normally distributed with an average of 8 weeks and a standard deviation of 2 weeks.Demand is also a variable and normally distributed with a mean of 150 cigars per week and a standard deviation of 23 cigars. 95% service level, what is the ROP?
- Harvey Gold, orders an unusual olive from the island of Santorini, off the Greek coast. Over the years he has noticed considerable variability in the time it takes to receive orders of these olives. He can place a replenishment order at any time. On average the order lead time is 4 months and the standard deviation is 6 weeks (1.5 months). The monthly demand for olives is normally distributed with a mean of 15 jars and a standard deviation of 6. The fixed ordering cost =$500, the cost of a jar to Harvey is $10 a jar, and the annual inventory holding cost is 18% of the product's cost ($10 per jar). Assume 4 weeks each month and 90% service level. Find the reorder point s, amount of safety stock, order-up-to level S, average inventory level, and the annual inventory-related cost. Table of Z-values for normal distribution: Service level Z-value 90% 1.29 91% 92% 93% 94% | 95% 96% 97% 98% 99% 1.65 1.34 1.41 1.48 1.56 1.75 1.88 2.05 2.33Gainesville Cigar stocks Cuban cigars that have variablelead times because of the difficulty in importing the product:lead time is norma lly distributed with an average of 6 weeks anda standard deviation of 2 weeks. Demand is also a variable andnormally distributed with a mean of 200 cigars per week and astandard deviation of 25 cigars.a) For a 90% service level, what is the ROP?b) What is the ROP for a 95% service level?c) Explain what these two service levels mean. Which ispreferable?Catlea Merchandising is engaged in selling school shoesfor both boys and girls in their teenage years. Catlea needs 32,000 pairs of shoes in a year in order to satisfy the market demand. It costs ₱ 48 to place an order while ₱ 8 is needed to hold each quantity of shoe in Catlea's inventory. Upon checking on Catlea's supplier, it takes 8 days in between placing an order and eventually receiving it. a. Determine the Economic Order Quantityb. Determine the number of order per monthc. Determine the reorder point
- A company operates for 50 weeks a year and uses a fixed quantity inventory system for one of its most important items. Below are the characteristics for the item: Weekly demand follows normal distribution: mean of 400 units and standard deviation of 100 units Order Cost = $40 per order Annual Holding cost = $2/unit/year Desired service level = 95% (z = 1.645) Lead Time = 4 weeks Economic Order Quantity (EOO) = 894 units Now suppose that the management is considering switching to a fixed time inventory system where the time between orders is 2 weeks. Everything else being the same as the information provided for the original problem, which system (Q or P system) is likely to have more safety stock? Please explain why.The materials manager for a billiard ball maker must periodically place orders for resin, one of the raw materials used in producing billiard balls. She knows that manufacturing uses resin at a rate of 50 kilograms each day, and that it costs $.04 per day to carry a kilogram of resin in inventory. She also knows that the order costs for resin are $100 per order, and that the lead time for delivery is four days. If the order size was 1,000 kilograms of resin, what would be the average inventory level?ou are a newsvendor selling the San Pedro Times every morning. Before you get to work, you go to the printer and buy the day’s paper for $0.50 a copy. You sell a copy of the San Pedro Times for $1.25. Daily demand is distributed normally with mean = 335 and standard deviation = 67. At the end of each morning, any leftover copies are worthless and they go to a recycle bin. How many copies of the San Pedro Times should you buy each morning and what is the probability that you will run out of stock? Use Excel's NORM.S.INV() function to find the z value.