The seasonal demand for a particularproduct is given below: Period 12 3 4 56Demand 300 450 100 450 450 100 Thefixed parameters are: Fixed Cost $8 UnitProduction Cost $1 Holding Cost $1.3Calculate total ordering cost using thefollowing three methods:i) Lot-for-Lotii) Wagner-Whitin algorithmiii) Fixed order quantity

Inventory management is the aspect of management that deals with managing, storing, and maintaining…

Answered: The seasonal demand for a particular…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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52 Demand for an item is 3,800 units per year. Each order placed costs $15; the annual cost to carry items in inventory is $10 each. In what quantities should the item be ordered? Note: Round your answer to the nearest whole number.
The seasonal demand for a particular product is given below: Period 1 2 3 4 5 6 Demand 300 450 100 450 450 100 The fixed parameters are: Fixed Cost $8 Unit Production Cost $1 Holding Cost $ 1.3 Calculate total ordering cost using following three methods: i) Lot-for-Lot ii) Wagner-Whitin algorithm iii) Fixed order quantity Which method you will chose to order and why? Please do fast... ASAP... do fast
Alpha Products, Inc., is having a problem trying to control inventory. There is insufficient time to devote to all its items equally. The following is a sample of some items stocked, along with the annual usage of each item expressed in dollar volume.in Table 3 (below): Table 3. Item Number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Annual Dollar Usage ($) 7,000 1,000 14,000 2,000 24,000 68,000 17,000 900 1,700 2,300 80,000 400 1,100 30,000 1,900 800 90,000 12,000 300 32,000 a) As an Operations Management specialist, what system would you recommend for allocating control time for this inventory.
1. Determine the inventory order quantity for Diamant’s distributor.2. Compare the optimal order quantity with a seasonally adjusted forecast for demand. Doesthe order quantity seem adequate to meet the seasonal demand pattern for Diamonds(i.e., is it likely that shortages or excessive inventories will occur)?
The distribution manager for Divine Corporation is trying to establish the most economic ordering policy for the standard model of its best-selling microwave oven. He has control of the finished goods warehouse for the factory and must satisfy wholesaler demand. The following information is available: Wholesale Value $100 Annual Demand 50,000 units Standard Deviation of Demand 30 units per day Working Year 250 days Production Lead Time 9 days Ordering Cost for Production $1,800 Holding Cost per unit per year 20% of value Desired Service Level 96 percent If Divine decides to use a continuous review system, what should be economic order quantity, safety stock, and the reorder point? If on the other hand, Divine wishes to use the periodic review system, what should be the safety stock, reorder point? If the current on hand inventory is 1,000 units, how many units should be ordered?
Classify the items in a warehouse inventory using the ABC method, where Group A contributes 80%, Group B contributes 15%, and Group C contributes 5% to the total inventory value Product Code Annual Demand Pick List Frequenscy Weighted Volume Weighthed Percentage Comulative Weight Percentage ABC Category A001 20000 2200 A002 19000 1700 A003 7800 700 A004 9840 1400 A005 16000 1300 A006 12000 2000 A007 9950 400 A008 10500 1700 A009 8200 515 A010 4700 258 A011 5100 367 A012 8800 800 A013 8900 711 A014 15000 1900 A015 7900 350 A016 9620 2000 A017 8800 550 A018 25000 2000 A019 9950 380 A020 10500 1100
The seasonal demand for a particular product is given below: Period 1 2 3 4 5 6 Demand 300 450 100 450 450 100 The fixed parameters are: Fixed Cost $8 Unit Production Cost $1 Holding Cost $1.3 Calculate total ordering cost using following three methods: i) Lot-for-Lot ii) Wagner-Whitin algorithm iii) Fixed order quantity Please do fast .. ASAP.. fast
The seasonal demand for a particular product is given below: Period 1, 2, 3 ,4 ,5, 6 Demand 300 ,450 ,100 ,450 ,450 ,100 The fixed parameters are: Fixed Cost $8 Unit Production Cost $1 Holding Cost $1.3 Calculate total ordering cost using the following three methods: i) Lot-for-Lot ii) Wagner-Whitin algorithm iii) Fixed order quantity
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The following lots of a particular commodity were available for sale during the year Beginning inventory 7 units at $49.00 First purchase 18 units at $54.00 Second purchase 25 units at $59.00 Third purchase 14 units at $59.00 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer. $1,127.00 $1,357.00 $3,616.00 $3,593.00
19. SPRAY-PAINT INVENTORY The Graphic Hobby House made purchases of assorted colors of spray paint during the year as follows. Beginning inventory 200 cans at $2.20 March 400 cans at $2.40 May 700 cans at $2.00 August 500 cans at $2.30 November 300 cans at S2.60 At the end of the year, they had 450 cans of spray paint in stock. (a) Find the inventory value using the weighted-average method. (b) Find the inventory value using the FIFO method. (c) Find the inventory value using the LIFO method.
Pls solve this question correctly in 5 min i will give u like for sure Question # 1 Teresa Cohan is attempting to perform an inventory analysis on one of her most popular products. Annual demand for this product is 5,000 units; unit cost $200; carrying cost is considered to be approximately 10% of the unit price. Order costs for her company typically run nearly $30 per order and lead time averages 10 days. Discounted unit cost of Rs. $150 (carrying cost remain the same) for more than 300 units is also being offered. (Assume a 50-week year. a)What is economic order quantity? b)What is the reorder point? c)What is the total carrying + ordering cost? d)What is optimal number of orders per year? e)Would you recommend availing the discount?

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