If annual demand is 60,000 units, the ordering cost is $30 per order, and the holding cost is $6 per unit per year, what is the optimal order quantity using the fixed-order quantity model?
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- Items purchased from a vendor cost $20 each, and the forecast for next year’s demand is 1,000 units. If it costs $5 every time an order is placed for more units and the storage cost is $4 per unit per year, a. What quantity should be ordered each time? b. What is the total ordering cost for a year? c. What is the total storage cost for a year?i need the answer quicklyBronco Truck Parts expects to sell the following number of units at the prices indicated under three different scenarios in the economy. The probability of each outcome is indicated. Outcome A B C Probability 0.20 0.20 0.60 Units 390 680 1,090 Total expected value Price $25 34 39 What is the expected value of the total sales projection?
- A moped manufacturing company needs 100,000 units of moped tires for its production per year. The carrying costs of these tires are 10 per unit per year. Fixed ordering cost is 400. What is the optimal number of units should the company order each time in order to minimize total inventory cost? At this optimal quantity, how often should the company order its moped tires? Assume a 365-day year.An inventory item has a demand of 10,000 units per month. The cost of each unit is $6, and the interest on tied-up money is 10%. The average ordering cost is $250 per order. a) What is the EOQ? units (round your response to the nearest integer). b) What is the optimal number of orders per year? to the nearest integer) c) What is the optimal number of days between any two orders? your response to the nearest integer) d) What is the annual holding cost? $ nearest integer) orders (round your response e) What is the total annual cost of the inventory system? $ to the nearest integer) days (round per year (round your response to the (round your responseXYZ Manufacturing produces a product for which the annual demand is 120,000 units. Production averages 800 units per day, 250 days per year. Holding costs are $3.00 per unit per year, and setup cost is $500.00. If the firm wishes to produce this product in economic batches, what size batch should be used (Q*)? What is the maximum inventory level? How many order cycles are there per year? What are the total annual holding and setup costs?
- Nowlin Pipe & Steel has projected sales of 6,400 pipes this year, an ordering cost of $5 per order, and carrying costs of $1.60 per pipe.a. What is the economic ordering quantity? b. How many orders will be placed during the year? c. What will the average inventory be?Sales volumes are expected to be either 20,000 units with 60% probability or they are expected to be 25,000 units. Price will either be $10 (0.3 probability) or else $15. Margins are expected to be 30% or 40% of sales with an even chance of each. What is the expected total cost?a. what is the EOQ for a firm that sells 5,000 units when the cost of placing an order is $5 and the carrying cost are $3.50 per unit? b. how long will the EOQ last? how many orders are placed annually? c. as a result of lower interest rates, the finnancial manager determines the carrying cost are now $1.80 per unit. what are the new EOQ and annual number of objects?
- The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula q = 103e0-3p²/2, where q is the demand in monthly sales and p is the retail price in hundreds of yen. (a) Determine the price elasticity of demand E when the retail price is set at ¥400. E = Interpret your answer. The demand is going? by % per 1% increase in price at that price level. Thus, a large price? (b) At what price will revenue be a maximum? (Round your answer to the nearest integer.) yen ✓is advised. (c) Approximately how many paint-by-number sets will be sold per month at the price in part (b)? (Round your answer to the nearest integer.) paint-by-number sets per monthProvide answer the following requirementsHudson Corporation is considering three options for managing its data warehouse: continuing with its own staff, hiring an outside vendor to do the managing, or using a combination of its own staff and an outside vendor. The cost of the operation depends on future demand. The annual cost of each option (in thousands of dollars) depends on demand as follows: If the demand probabilities are 0.2, 0.5, and 0.3, which decision alternative will minimize the expected cost of the data warehouse? What is the expected annual cost associated with that recommendation? Construct a risk profile for the optimal decision in part (a). What is the probability of the cost exceeding $700,000?