Leaky Pipe, a local retailer of plumbing supplies, faces demand for one of its SKUS at a constant rate of 34,000 units per year. It costs Leaky Pipe $35 to process an order to replenish stock and $5.00 per unit per year to carry the item in stock. Stock is received 6 working days after an order is placed. No backordering is allowed. Assume 350 working days a year. a. Leaky Pipe's optimal order quantity isOunits. (Enter your response rounded to the nearest whole number.) b. The optimal number of orders per year is orders. (Enter your response rounded to the nearest whole number.) c. The optimal interval (in working days) between orders is days. (Enter your response rounded to one decimal place) d. The demand during lead time is units. (Enter your response rounded to the nearest whole number.) e. The reorder point is units. (Enter your response rounded to the nearest whole number.) f. The inventory position immediately after an order has been placed is units. (Enter your response rounded to the nearest whole ber.)
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
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