Responsive supply chains react quickly to market demands by positioning inventories and capacities in order to hedge against uncertainty in demand . Select one : a . False b . True
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Responsive supply chains react quickly to market demands by positioning inventories and capacities in order to hedge against uncertainty in demand . Select one :
a . False
b . True
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- Explain the following based on Demand Management Demand Management Independent Demand Dependent Demand Random Variations Safety StocksIn an ABC system based on revenue, C items individually make the lowest annual revenue contribution. TRUE FALSEThe Northridge Company tends to keep the inventory low. At the same time, it is important to respond to demand quickly, since a customer who wants a product K is very likely to get one from a competitor if Northridge Company doesn’t have one available immediately. Northridge Company’s current policy to produce the product K is to produce 100 per week, which is the average demand. Even this is a problem, as the production manager has pointed out, since the equipment is also used for other products and the lot size of 300 would be much more efficient. He said he is currently set up the production for product K for the next week and states that he has capacity available to produce 300 at a time next week. The following lists the forecasts and actual customer orders for the next 12 weeks. Week 1 2 3 4 5 6 7 8 9 10 11 12 Forecast 90 120 110 80 85 95 100 110 90 90 100 110 Customer Orders 105 97 93 72 98 72 53 21…
- Bradley Solutions and Alexander Limited are two well-established suppliers of inexpensive tools. Weekend Projects is a national chain of retail outlets that caters to the occasional fixer-upper who would prefer to get the job done fast rather than investing in a well-appointed tool box. Weekend Projects wants to find a supplier for a particular tool set that promises to be a big seller. Expected annual sales are 100,000 units (D). Weekend's warehouses operate 50 weeks a year. Management collected data on the two suppliers, which are contained in the table below: Annual Price/Unit Holding Cost/Unit Lead Time (L) (p) (wks) Supplier 10,000 25,000 50,000 Bradley $40,000 $26,000 $19,000 Alexander $30,000 $28,000 $17,000 $7.15 $7.15 a. Which of the two suppliers would provide the lowest annual cost to Weekend Projects? What shipping quantity would you suggest? and a shipping quantity of Using Annual Freight Costs Shipping Quantity (Q) -w an example Get more help. (H) $1.43 $1.43 6 4 Annual…Bradley Solutions and Alexander Limited are two well-established suppliers of inexpensive tools. Weekend Projects is a national chain of retail outlets that caters to the occasional fixer-upper who would prefer to get the job done fast rather than investing in a well-appointed tool box. Weekend Projects wants to find a supplier for a particular tool set that promises to be a big seller. Expected annual sales are 100,000 units (D). Weekend's warehouses operate 50 weeks a year. Management collected data on the two suppliers, which are contained in the table below: Annual Freight Costs Shipping Quantity (Q) Price/Unit Annual Holding Lead Time (L) (p) $7.15 $7,15 Annual Supplier Bradley Alexander 10,000 25,000 $40.000 $26.000 50,000 $18.000 Cost/Unit (H) (wks) Administrative Cost $15.000 $1.43 $1.43 $30,000 $25,000 $17,000 6 $10,000 a. Which of the two suppliers would provide the lowest annual cost to Weekend Projects? What shipping quantity would you suggest? Using V and a shipping…A company wants to produce hardware at a level rate and send 10 units to inventory. If their 6-month forecast reveals a total of 110 units demanded, what should be their monthly production rate?
- Chicago's Hard Rock Hotel distributes a mean of 1,200 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 95 towels per day, based on occupancy. The laundry firm that has the linen contract requires a 4-day lead time. The hotel expects a 95% service level to satisfy high guest expectations. Refer to the standard normal table for z-values. Z-Table: Z Pr(Z) 0.38 65 0.50 69 0.67 75 0.84 80 1.04 85 1.28 90 1.41 92 1.56 94 1.65 95 1.75 96 2.06 98 2.33 99 a) What is the reorder point? b) What is the safety stock?You are a newsvendor selling the New York Times every morning. Before you get to work, you buy the day’s newspaper for $0.90 a copy. You sell a copy of the New York Times for $4.0. Daily demand is distributed normally with a mean of 130 and a standard deviation of 20. At the end of each morning, any leftover copies can be sold to a recycling center for $0.10. How many copies of the New YorkThe daily demand for printer paper at the School of Business is approximately normal with a mean of 15.2 boxes and a standard deviation of 1.6 per day. The Administrative Assistant reviews the inventory every 30 days, and the lead time is 5 days. The division set a policy of satisfying 96% of the demand for paper. If there are 125 boxes of printer paper in inventory at the beginning of this review period, how many boxes of printer paper should be ordered? What is the variance of demand during the review period plus the lead-time period? What is the standard deviation of demand during the review period plus the lead-time period? A. Variance = 76.80 Standard deviation = 8.76 B. Variance = 89.60 Standard deviation = 9.47 C. Variance = 9.47 Standard deviation = 89.60 D. Variance = 12.8 Standard deviation = 3.58
- Bradley Solutions and Alexander Limited are two well-established suppliers of inexpensive tools. Weekend Projects is a national chain of retail outlets that caters to the occasional fixer-upper who would prefer to get the job done fast rather than investing in a well-appointed tool box. Weekend Projects wants to find a supplier for a particular tool set that promises to be a big seller. Expected annual sales are 100,000 units (D). Weekend's warehouses operate 50 weeks a year. Management collected data on the two suppliers, which are contained in the table below: Annual Freight Costs Shipping Quantity (Q) Price/Unit Annual Holding Lead Time (L) Annual Supplier Bradley Alexander 50.000 $18,000 $17.000 Cost/Unit (H) $1.43 $1.43 10,000 25,000 (p) $7.15 (wks) Administrative Cost $40,000 $30,000 $26.000 $25.000 $15,000 S7.15 6 $10.000 a. Which of the two suppliers would provide the lowest annual cost to Weekend Projects? What shipping quantity would you suggest? Using and a shipping quantity…M) (i) An organisation uses a certain type of items to produce their products. As a production manager the organisation requires you to calculate the following with the help of the information given below (i) Maximum level (ii) Minimum level (iii) Re-order level The necessary information is as detailed below Normal usage of the items 100 units per week of 6 days Minimum usage of the items 50 units per week of 6 days Maximum usage of the items 150 units per week of 6 days Re-order quantity of the item 600units Re-order period for the item 4 to 6 weeks
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