The purchasing manager of Flat Screen TV wants to determine the most optimum inventory practice for the company. He was able to determine the demand and inventory costs needed in his analysis. The annual demand is 1000 units, the ordering cost is Php1000 per order and the holding cost is Php500 per unit per year. It will take 20 days for an order to arrive and there are 250 working days per year. What is the economic quantity? How much total annual inventory cost? What is the reorder point? Solve the following and show your solution: a. Economic Order Quantity b. Total Annual Inventory Cost c. Total Ordering Cost d. Average Inventory e. Total Holding Cost f. Total Annual Inventory Cost g. Daily Demand h. Reorder Point
The purchasing manager of Flat Screen TV wants to determine the most optimum inventory practice for the company. He was able to determine the demand and inventory costs needed in his analysis. The annual demand is 1000 units, the ordering cost is Php1000 per order and the holding cost is Php500 per unit per year. It will take 20 days for an order to arrive and there are 250 working days per year. What is the economic quantity? How much total annual inventory cost? What is the reorder point? Solve the following and show your solution: a. Economic Order Quantity b. Total Annual Inventory Cost c. Total Ordering Cost d. Average Inventory e. Total Holding Cost f. Total Annual Inventory Cost g. Daily Demand h. Reorder Point
Precision Machining Technology (MindTap Course List)
2nd Edition
ISBN:9781285444543
Author:Peter J. Hoffman, Eric S. Hopewell, Brian Janes
Publisher:Peter J. Hoffman, Eric S. Hopewell, Brian Janes
Chapter2: Measurement, Materials, And Safety
Section2.5: Quality Assurance, Process Planning, And Quality Control
Problem 10RQ: If an X-bar chart graph falls below the LCL or rises above the UCL, a machining process is said to...
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Transcribed Image Text:The purchasing manager of Flat Screen TV wants to determine the most optimum inventory practice for the company.
He was able to determine the demand and inventory costs needed in his analysis. The annual demand is 1000 units, the
ordering cost is Php1000 per order and the holding cost is Php500 per unit per year. It will take 20 days for an order to
arrive and there are 250 working days per year. What is the economic quantity? How much total annual inventory cost?
What is the reorder point?
Solve the following and show your solution:
a.
Economic Order Quantity
b. Total Annual Inventory Cost
c. Total Ordering Cost
d. Average Inventory
e.
f.
Total Holding Cost
Total Annual Inventory Cost
g. Daily Demand
h. Reorder Point
SVY
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