The reorder level. Introduction : Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

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Answer 1

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Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The reorder level.

Introduction: Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

b)

Summary Introduction

To determine: The order quantity for P34.

c)

Summary Introduction

To determine: The order quantity for P35.

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You may need to use the appropriate technology to answer this question. An event hall that hosts public lectures, book readings, poetry slams, and other similar events uses a one-week periodic review inventory system for the throat lozenges that it stocks for its patrons. A two-day lead time is needed for any order, and the event hall is willing to tolerate an average of one stock-out per year. (a) Using the event hall's service guideline, what is the probability of a stock-out associated with each replenishment decision? (Round your answer to four decimal places.) (b) What is the replenishment level if demand during the review period plus lead-time period is normally distributed with a mean of 50 units and a standard deviation of 12 units? (Round your answer to the nearest integer.) (c) What is the replenishment level if demand during the review period plus lead-time period is uniformly distributed between 45 and 95 units? (Round your answer to the nearest integer.)

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The annual requirements for a particular raw material are 2,000 units costing Re. 1 each to the manufacturer. The ordering cost is Rs. 10 per order and the carrying cost 16% per annum of the average inventory value. Find and explain the economic order quantity and the total inventory cost per annum.

Answer 2

Question

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The reorder level.

Introduction: Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

b)

Summary Introduction

To determine: The order quantity for P34.

c)

Summary Introduction

To determine: The order quantity for P35.

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Answer 3

Question

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The reorder level.

Introduction: Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

b)

Summary Introduction

To determine: The order quantity for P34.

c)

Summary Introduction

To determine: The order quantity for P35.

Expert Solution & Answer

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Answer 4

Question

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The reorder level.

Introduction: Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

b)

Summary Introduction

To determine: The order quantity for P34.

c)

Summary Introduction

To determine: The order quantity for P35.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 5

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The reorder level.

Introduction: Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

b)

Summary Introduction

To determine: The order quantity for P34.

c)

Summary Introduction

To determine: The order quantity for P35.

Answer 6

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The reorder level.

Introduction: Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

Answer 7

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The reorder level.

Introduction: Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

Answer 8

b)

Summary Introduction

To determine: The order quantity for P34.

Answer 9

b)

Summary Introduction

To determine: The order quantity for P34.

Answer 10

c)

Summary Introduction

To determine: The order quantity for P35.

Answer 11

c)

Summary Introduction

To determine: The order quantity for P35.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 12.3 - Prob. 1RQ Ch. 12 - What are the primary reasons for holding...Ch. 12 - What are the requirements for effective inventory...Ch. 12 - Briefly describe each of the costs associated with...Ch. 12 - What potential benefits and risks do RFID tags...Ch. 12 - Prob. 5DRQ Ch. 12 - Prob. 6DRQ Ch. 12 - a. List the major assumptions of the EOQ model. b....Ch. 12 - Explain briefly how a higher carrying cost can...Ch. 12 - What is safety stock, and what is its purpose?

The reorder level. Introduction : Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

Solution Summary: The author explains the reorder level for P34, which is 132 units, based on a z-factor table.

Concept explainers

Videos

To determine: The reorder level.

Introduction: Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

To determine: The order quantity for P34.

To determine: The order quantity for P35.

Want to see the full answer?

Chapter 12 Solutions

The reorder level. Introduction : Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

Solution Summary: The author explains the reorder level for P34, which is 132 units, based on a z-factor table.

Concept explainers

Videos

To determine: The reorder level. Introduction: Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.

To determine: The order quantity for P34.

To determine: The order quantity for P35.

Want to see the full answer?

Chapter 12 Solutions

To determine: The reorder level.

Introduction: Inventory is a stock or store of goods. Every company store lots of goods as inventory which will be used during replenishment periods. Management of inventory is so much essential to manage cost and also to reduce cost.