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The reorder point is defined as the lead-time demand for an item. In cases of long lead times, the lead-time demand and thus the reorder point may exceed the economic order quantity Q. In such cases, the inventory position will not equal the inventory on hand when an order is placed, and the reorder point may be expressed in terms of either the inventory position or the inventory on hand. Consider the economic order quantity model with D = 4,000, C₁=$40, C₁, 52, and 250 working days per year. Identify the reorder point in terms of the inventory position and in terms of the inventory on hand for each of the following lead times. (a) 5 days Inventory position inventory on hand (b) 15 days inventory position inventory on hand (c) 30 days inventory position inventory on hand (d) 60 days inventory position Inventory on hand

The reorder point is defined as the lead-time demand for an item. In cases of long lead times, the lead-time demand and thus the reorder point may exceed the economic order quantity Q. In such cases, the inventory position will not equal the inventory on hand when an order is placed, and the reorder point may be expressed in terms of either the inventory position or the inventory on hand. Consider the economic order quantity model with D = 4,000, C₁=$40, C₁, 52, and 250 working days per year. Identify the reorder point in terms of the inventory position and in terms of the inventory on hand for each of the following lead times. (a) 5 days Inventory position inventory on hand (b) 15 days inventory position inventory on hand (c) 30 days inventory position inventory on hand (d) 60 days inventory position Inventory on hand

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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The reorder point is defined as the lead-time demand for an item. In cases of long lead times, the lead-time demand and thus the reorder point may exceed the economic order quantity Q. In such cases, the inventory position will not equal the inventory on hand when an order is placed, and the reorder point may be expressed in terms of either the inventory position or the inventory on hand. Consider the economic order quantity model with D = 4,000, C = $40, C = $2, and 250 working days per year. Identify the reorder point in terms of the inventory position and in terms of the inventory on hand for each of the following lead times. (a) 5 days Inventory position inventory on hand (b) 15 days inventory position inventory on hand (c) 30 days inventory position inventory on hand (d) 60 days inventory position Inventory on hand ||||||
Transcribed Image Text:The reorder point is defined as the lead-time demand for an item. In cases of long lead times, the lead-time demand and thus the reorder point may exceed the economic order quantity Q. In such cases, the inventory position will not equal the inventory on hand when an order is placed, and the reorder point may be expressed in terms of either the inventory position or the inventory on hand. Consider the economic order quantity model with D = 4,000, C = $40, C = $2, and 250 working days per year. Identify the reorder point in terms of the inventory position and in terms of the inventory on hand for each of the following lead times. (a) 5 days Inventory position inventory on hand (b) 15 days inventory position inventory on hand (c) 30 days inventory position inventory on hand (d) 60 days inventory position Inventory on hand ||||||
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