What should the lot size be? O It will vary by order. O Less than 3500 O Greater than 3500 but less than 3750 O Greater than 3750 but less than 4000 Greater than 4000
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- Which item would be considered an order winner in an automobile developed for high-end users? Voice-activated music system Compact disc players Full-sized spare tire Air bagsdt = demand Kt = ordering cost Ct = cost per item ht = holding cost per item per unit timeRick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a reduced lot size. The firm uses a work year of 300 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) $60.00 per hour $19 per unit 1,040 units/day 33,000 (300 days x daily demand of 110 units) Q = 260 units a) Setup cost = $ b) Setup time = (round your response to two decimal places). minutes (round your response to two decimal places).
- The 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…Abey Kuruvilla, of Parkside Plumbing, uses 1,230 of a certain spare part that costs $24 for each order, with an annual holding cost of $25. Part 2 a) Calculate the total cost for order sizes of 25, 40, 50, 60, and 100 (round your responses to two decimal places). Order Size Total Cost ($) 25 enter your response here 40 enter your response here 50 enter your response here 60 enter your response here 100 enter your response here b) What is the economic order quantity? units (round your response to two decimal places).I. The 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 Forecast Customer Orders 1 2 3 90 120 110 105 97 93 4 5 6 7 8 80 110 85 95 100 90 72 98 72 53 21 17 9 10 11 90 100 6 2 12 110 5 The president of Northridge Company has said that he wants to…
- If the order quantity doubles but the flow rate remains constant, what happens to theaverage amount of time a unit spends in inventory?a. Decreases by more than 50 percent d. Increases by 50 percentb. Decreases by 50 percent e. Increases by more than 50 percentc. Remains unchangedDevelop a measure of risk to go along with the ordering policy. This measure should be quantifiable.Which of the following problems are not among those hidden when inventory levels are excessively high? A) Inadequate worker motivation B) Engineering design redundancies C) Scrap D) Productive equipment downtime E) Paperwork backlogs
- Remember, Foxie's shop found that Daily demand was equally likely to be 100, 125, 150, 175, or 200 bagels. What should be the number of bagels on hand to satisfy a Fill Rate requirement of 95%, rounded to next integer value? Group of answer choices 150 159 169 190NEED ALL THREE QUESTIONS Item X is a standard item stocked in a company's inventory of component parts. Each year the firm, on a random basis, uses about 2,700 of item X, which costs $25 each. Storage costs, which include insurance and cost of capital, amount to $9 per unit of average inventory. Every time an order is placed for more item X, it costs $6. a. Whenever item X is ordered, what should the order size be? (Round your answer to the nearest whole number.) b. What is the annual cost for ordering item X? (Round your answer to 2 decimal places.) c. What is the annual cost for storing item X? (Round your answer to 2 decimal places.)Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a reduced lot size. The firm uses a work year of 300 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) $60.00 per hour $11 per unit 880 units/day 36,000 (300 days x daily demand of 120 units) Q=220 units a) Setup cost = $ (round your response to two decimal places). b) Setup time = minutes (round your response to two decimal places).