The manager of a local retail store is ordering a specialty item from a supplier in Toronto. The lead time is cons days. The store is open 300 days a year (50 weeks Monday-Saturday, with a two-week vacation). The average is 40 units, with a standard deviation of 7.6. (Assume that the distribution is approximately normal.) It costs $40 to place an Time left 1:45:28 order, and the annual holding cost is 30% of the inventory value. The supplier charges $8.00 per unit. Find the economic order quantity (EOO). O a. 1788 O b. 346 O c. 36 Od. 632
Q: With regard to a healthcare organization, what are the most significant risk exposure areas related…
A: In a healthcare organization, the main risk exposure areas related to financial position and…
Q: Kelly Foods has two plants and ships canned vegetables to customers in four cities. The cost of…
A: Decision Variables: Suppose-Xij be the no. of cases sent from plant i to customer jWhere i=1,2 and…
Q: Mario Armando Perez is the kitchen manager at the Asahi Sushi House. Mario’s restaurant offers five…
A:
Q: Table 6-2. Time Actual Period Sales 1 230 238 260 275 300 285 270 290 305 320 335 2 3 4 5 6789 10 11…
A: Find the given details below: Time Period Actual Sales (y) 1 230 2 238 3 260 4 275 5…
Q: Which of the following level of operational risks relates to model errors and losses arising from…
A: Introduction Operational risk refers to the potential for losses resulting from inadequate or failed…
Q: How much time would you expect a customer to wait in line, pay with a debit card, and leave?
A: Given that the arrival rate is 300 per hour and the service rate to verify the debit card is to be…
Q: 3. A company will soon be introducing a new product into a very competitive market and is currently…
A: Given: Company is launching a new product in a competitive market with a strategy to introduce the…
Q: defines two distinct forms of management; how may an understanding of these change the value…
A: In simplest form Management can be defined as the method of sorting out and planning a business'…
Q: Explain why an activity’s free float can never exceed theactivity’s total float.
A: In project management, "float" refers to the amount of time an activity can be delayed without…
Q: KFC need to determine weather they should set up a new location. Develop a mini proposal. Providing…
A: This proposal outlines the factors to consider while determining whether to set up another location…
Q: Calculate the linear programming: Min. Z = 6X1+3X2 Constraints 2X1+4X2 ≥ 16 4X1+3X2 ≥ 24 X1,X2…
A: Given LP- Min. Z = 6X1+3X2 Constraints 2X1+4X2 ≥ 16 4X1+3X2 ≥ 24 X1,X2 ≥ 0
Q: The following tasks are to be performed on an assembly line: TASK ABCDEFGH SECONDS 25 589685 15 20…
A: Sum of all task time = 25+15+20+29+16+8+35+32 = 180 seconds Demand = 900 Cycle time = available time…
Q: Describe the technique or method used to select the project. (4) Identify and describe at least five…
A: The above project comes with multiple purposes, and it could offer multiple results/outcomes term…
Q: What role does architecture play in society? Consider a project and map it both without and with…
A: Introduction: Architecture is an important part of the society as it not just add value to the…
Q: SLO 1.3 Supplier managed inventories works best for: A) Production material B) Direct material C) A…
A: As per Bartleby guidelines, we can only solve one question at a time...Kindly upload the other…
Q: Which of the following involves a test of two-related samples? Multiple Choice Test of whether…
A: To be determined: Which of the following involves a test of two related samples. Introduction A…
Q: Discribe how to determine an appropriate method for calculating the forecast error and discuss the…
A: The process of forecasting involves making predictions about the future based on historical data and…
Q: Who should be in charge of documenting the results of the JAD session? a. Alex b. Tom c.…
A: Here, for the given MCQ question, I would describe the responsibilities of a recorder, and then come…
Q: List three benefits of mentoring ?
A: Introduction: Mentoring refers to a collaborative approach where a person or a group of people share…
Q: Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.) b. Compute the…
A: Average Inventory = Value of production materials on-hand + Value of work-in-process inventory +…
Q: Food Goblin Supermarkets use both cashiers and baggers to serve customers at check out. During the…
A: Given data: Flow rate = 75 customers per hour No. of cashier = 8 No. of baggers = 6 Cashier spends…
Q: The table above provides the aggregate plan of production by a firm. It is known that the firm uses…
A: level plan means similar production rate in every period.
Q: The following tasks are to be performed on an assembly line: TASKS THAT MUST PRECEDE TASK ABCDEFGH H…
A: Find the Given details below: Task Duration(Seconds) Precedence A 25 - B 15 A C 20 B D 29…
Q: SLO 8.2. If the buyer does not have a clear and unambiguous description or specification and wants…
A: If you have any desire to purchase materials from a supplier for an expert venture, you might…
Q: As a procurement manager of a transportation company how do you analyze total landed cost for…
A: Landed Cost The cost of delivering a product or package to a customer's front door, or the landed…
Q: An engine system consists of 2 main components in a series, all having the same reliability.…
A: Here, given that two primary components are found in an engine system in a series, they are all…
Q: An airline company must plan its fleet capacity and its long-term schedule of aircraft usage. For…
A: Given data Average number of customers per day = 70 Utilization rate of the equipment assigned =…
Q: Sarah needs to purchase organic palm oil to make her soaps. She needs 1,000 kg of palm oil per day…
A: Annual demand = 52 weeks X 7 days a week X 1000kg per day = 364000 kg
Q: Clinical supervision is a management practice that benefits from parallel processing. This helps…
A: Parallel processing in management refers to the ability to manage multiple tasks or projects at the…
Q: In the case it was mentioned that ‘One of the conventional risks, political, regulatory and…
A: Tesco plc (Tesco), a food retailer which is the largest supermarket chain in the Unified Realm and…
Q: Briefly defining a technique and then discussing its three constituent pieces.
A: One technique define and discuss its three constituent pieces is the SWOT analysis. SWOT analysis is…
Q: Expound upon the SAP ERP system's capability of differentiating between individual tasks, jobs, and…
A: SAP ERP can be defined as software that helps organizations in enterprise resource planning which is…
Q: The Unrelenting Team is proposing to start a phone company in the countryside. Which research method…
A: Note: “The answer has been framed in a generalized manner”. Research refers to the activity of…
Q: You are given the demand and forecast history for a baby doll sold at a toy store. According to…
A: Given: Alpha (a) = 0.1 The actual demand of week 9 (D) = 97.6 Forecasted demand of week 9 (F) =…
Q: These vendors supply application programming software: To better understand your opinion, please…
A: Vendor management can be defined as a significant job for any organization that involves an outside…
Q: U.S. Airfilter has hired you as a supply chain consultant. The company makes air filters for…
A: Given-
Q: Hart Manufacturing makes three products. Each product requires manufacturing operations in three…
A: Decision Variables: Suppose-Pi be the units of product i producedWhere i = 1, 2, 3
Q: SC Consulting, a supply chain consulting firm, must decide on the location of its home offices. Its…
A: To determine the optimal location for SC Consulting's home offices, we need to consider the fixed…
Q: There are several possible meanings for the phrase "incremental programme development." Furthermore,…
A: "Incremental program development" refers to a process of developing a program or project in stages,…
Q: The owner of a large machine shop has just finished its financial analysis from the prior fiscal…
A: a. To compute the inventory turnover ratio (ITR), we need to divide the cost of goods sold by the…
Q: Now that you have learned how to conduct a Root Cause Analysis (RCA), please perform one for the…
A: Disclaimer: A generalized answer format is provided. As it is not possible to submit a template or…
Q: Learning Organization What is a "learning organization" and what kinds of organization strategies…
A: A learning organization is an organization that prioritizes continuous learning and development at…
Q: Provide a clear and succinct description of the many stakeholders involved in the creation of the…
A: Those who have a vested interest in the project's success are considered stakeholders. Members of…
Q: George Kyparisis owns a company that manufactures sailboats. Actual demand for George's sailboats…
A: Given that: Season 1 2 3 4 Winter 1,440 1,280 1,040 920 Spring 1,500 1,440 1,600 1,540…
Q: Problem 1: Calculate the reliability of the following system: = 0.85 0.90 0.95 0.90 0.85 0.90 0.70…
A: To find: The reliability of the system. Formula used: System Reliability of the components in series…
Q: Strategic planning is one of the several components of project management that a high functioning…
A: A high- performing organisation needs a variety of project management components, such as strategic…
Q: can u get the bcwp, bcws, schedule performance index, cost performance index (in a table) 58 weeks…
A: The following are the formulas used to compute BCWP, BCWS, SPI, CPI BCWP = % of work done × Actual…
Q: Explain the Spiral Model and V Model for project management
A: The Spiral Model and V Model are popular project management frameworks that are to assistance to…
Q: Heather Adams, production manager for a Colorado exercise equipment manufacturer, needs to…
A: Item Lead Time On-Hand Inventory Components Stepper 2 20 A2, B2, C2 A 1 10 D1, F2 B 2 20 E2,…
Q: b. Determine X and R. Note: Round your answers to 3 decimal places. X bar R bar c. Determine the UCL…
A: Here, there are a total of fifteen samples and the sample size is 4, I would draw up the X bar R…
Step by step
Solved in 2 steps
- A store has collected the following information on one of its products:Demand = 4,500 units/year Standard deviation of weekly demand = 12 units Ordering costs = $40/order Holding costs = $3/unit/year Cycle-service level = 90% (z for 90% = 1.28) Lead-time = 2 weeks Number of weeks per year = 52 weeks a. If a firm uses the continuous review system to control the inventory, what would be the order quantity and reorder point?40 Gentle Ben's Bar and Restaurant uses 5,000 quart bottles of an imported wine each year. The effervescent wine costs $3 per bottle and is served only in whole bottles because it loses its bubbles quickly. Ben figures that it costs $10 each time an order is placed, and holding costs are 20 percent of the purchase price. It takes three weeks for an order to arrive. Weekly demand is 100 bottles (closed two weeks per year) with a standard deviation of 30 bottles. Ben would like to use an inventory system that minimizes inventory cost and will provide a 95 percent service probability. a. What is the economic quantity for Ben to order? Note: Round your answer to the nearest whole number.A golf specialty wholesaler operates 50 weeks per year. Management is trying to determine an inventory policy for its 1-irons, which have the following characteristics: > Demand (D) = 2,000 units/year > Demand is normally distributed > Standard deviation of weekly demand = 2 units > Ordering cost = $30/order > Annual holding cost (H) = $5.00/unit > Desired cycle-service level = 85% > Lead time (L) = 4 weeks Refer to the standard normal table for z-values. a. If the company uses a periodic review system, P should be 3.87 weeks. (Enter your response rounded to the nearest whole number.) T should be units. (Enter your response rounded to the nearest whole number.)
- A golf specialty wholesaler operates 50 weeks per year. Management is trying to determine an inventory policy for its 1-irons, which have the following characteristics:Demand (D) = 2,000 units/yearDemand is normally distributedStandard deviation of weekly demand = 3 unitsOrdering cost = $40/orderAnnual holding cost (H) = $5/unitsDesired cycle-service level = 90 percentLead time (L) = 4 weeksa. If the company uses a periodic review system, what should P and T be? Round P to the nearest week.b. If the company uses a continuous review system, what should R be?At Dot Com, a large retailer of popular books, demand is constant at 20,400 books per year. The cost of placing an order to replenish stock is $75, and the annual cost of holding is $6.00 per book. Stock is received 6 working days after an order has been placed. No backorder is allowed. Assume 250 working days a year. **(Enter your response rounded to the nearest whole number.)** Dot Com's optimal order quantity is ______ books. What is the optimal number of orders per year? What is the optimal enterable quotation in working days quotation between orders? What is the demand during the lead time? What is the reorder Point? What is the inventory position immediately after an order has been placed?An electronics retailer wants to develop an inventory policy to achieve 99% chance of not getting stockouts for a chip. The daily demand for the chip is estimated to be Normal with mean 200 and standard deviation of 20. They count the chip inventory every 2 weeks to place an order, and it takes 11 days for the ordered chips to be delivered. The retailer operates 7 days a week, 365 days a year. They are going to implement an order-up-to model. A) What base stock level should they choose? B) What is the number of chips they would have on order (on average)? C) When they checked their inventory of chips to place a new order, they found that they ran out of stock completely. In addition, they have 10 chips on way to be delivered, while there are five customers who paid for 20 chips in total and are waiting to receive their chips. How many chips should the retailer order?
- A restaurant uses 5,000 quart bottles of ketchup each year. The ketchup costs $3.00 per bottle and is served only in whole bottles because its taste quickly deteriorates. The restaurant figures that it costs $10.00 each time an order is placed, and holding costs are 20 percent of the purchase price. It takes 3 weeks for an order to arrive. The restaurant operates 50 weeks per year. The restaurant would like to use an inventory system that minimizes inventory cost. The restaurant has figured that the most economical order size or EOQ is approx. 409 (rounding up the decimals). Suppose that things have become uncertain and that customer demand is no more constant. Customer demand is now normally distributed with mean being the same as given in the problem description and standard deviation = 30 units per week. The supply source is still very reliable and as a result the lead time is constant. Find out the safety stock needed to achieve 95% customer service level. O 55 65 075 85 None of…ABC Corporation resells one type of candle. It has 250 working days. Each day, it sells an average of 500 boxes but maysometimes sell a maximum of 600 boxes. The supplier takes an average of 5 days to deliver the order. During busier times, thesupplier may take 7 days.Based on ABC’s records, ordering cost average P400 per order. Storage cost per box average P5 per year. There is also anopportunity cost of 1% per year for every peso invested in inventories. Each box of candles costs P450. If ABC would continue its current inventory management policy, it would keep 10,000 boxes as safety stock and order ten-days-worth of inventory. (B) Economic Order Quantity 1. How much would the total inventory related (ordering plus carrying) costs be if the economic order quantity wasfollowed (excluding safety stock)? (D) Cost-Benefit Analysis: If ABC maintains its current inventory policy for the year,1. How much would the entity save it followed the reorder point and economic order quantity models?…ABC Corporation resells one type of candle. It has 250 working days. Each day, it sells an average of 500 boxes but maysometimes sell a maximum of 600 boxes. The supplier takes an average of 5 days to deliver the order. During busier times, thesupplier may take 7 days.Based on ABC’s records, ordering cost average P400 per order. Storage cost per box average P5 per year. There is also anopportunity cost of 1% per year for every peso invested in inventories. Each box of candles costs P450. If ABC would continue its current inventory management policy, it would keep 10,000 boxes as safety stock and order ten-days-worth of inventory. 18. Explain what would happen to the ordering cost, carrying cost and total inventory-related costs if the entity doesnot follow the economic order quantity based on the previous numbers
- ABC Corporation resells one type of candle. It has 250 working days. Each day, it sells an average of 500 boxes but maysometimes sell a maximum of 600 boxes. The supplier takes an average of 5 days to deliver the order. During busier times, thesupplier may take 7 days.Based on ABC’s records, ordering cost average P400 per order. Storage cost per box average P5 per year. There is also anopportunity cost of 1% per year for every peso invested in inventories. Each box of candles costs P450. If ABC would continue its current inventory management policy, it would keep 10,000 boxes as safety stock and order ten-days-worth of inventory. (C) Reorder Point and Economic Order Quantity19. What would the average number of boxes be if the safety stock from Part A was kept and the EOQ from Part Bwas followed? Round off to two decimal places.20. How much would the carrying cost for the year be based on item 19?21. How much would the total inventory related (ordering plus carrying) costs be if the…A manufacturing company uses 25,000 components at an even rate during a year. Eachorder placed with the supplier of the components is for 2,000 components, which is theeconomic order quantity. The company holds a buffer inventory of 500 components. Theannual cost of holding one component in inventory is $2.What is the total annual cost of holding inventory of the component?A grocer carries 9,300 different items in their store. In a normal week, demand occurs for 4,900 of these items. Of those 4,900 items, 175 are not available for the entire week and another 330 items are available for only part of the week. Round your answer as a percentage rounded to one decimal place. What is the grocer's in-stock probability during a normal week? %