The number of orders the company should make. Inventory and supply chain models: The functions of inventory and supply chain are one of the most important business decision areas for an organization. The first important aspect of these concepts is to have adequate inventory on hand. The second important aspect is to carry a little amount of inventory as possible.

Question

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Answer 1

Question

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The number of orders the company should make.

Inventory and supply chain models:

The functions of inventory and supply chain are one of the most important business decision areas for an organization. The first important aspect of these concepts is to have adequate inventory on hand. The second important aspect is to carry a little amount of inventory as possible.

b)

Summary Introduction

To determine: The optimal order quantity.

c)

Summary Introduction

To determine: The price at which the company should order.

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Sam's Pet Hotel operates 51 weeks per year, 6 days per week, and uses a continuous review inventory system. It purchases kitty litter for $11.00 per bag. The following information is available about these bags: > Demand 95 bags/week > Order cost $52.00/order > Annual holding cost = 25 percent of cost > Desired cycle-service level = 80 percent >Lead time 4 weeks (24 working days) > Standard deviation of weekly demand = 15 bags > Current on-hand inventory is 320 bags, with no open orders or backorders. a. Suppose that the weekly demand forecast of 95 bags is incorrect and actual demand averages only 75 bags per week. How much higher will total costs be, owing to the distorted EOQ caused by this forecast error? The costs will be $ higher owing to the error in EOQ. (Enter your response rounded to two decimal places.)

Answer 2

Question

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The number of orders the company should make.

Inventory and supply chain models:

The functions of inventory and supply chain are one of the most important business decision areas for an organization. The first important aspect of these concepts is to have adequate inventory on hand. The second important aspect is to carry a little amount of inventory as possible.

b)

Summary Introduction

To determine: The optimal order quantity.

c)

Summary Introduction

To determine: The price at which the company should order.

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Answer 3

Question

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The number of orders the company should make.

Inventory and supply chain models:

The functions of inventory and supply chain are one of the most important business decision areas for an organization. The first important aspect of these concepts is to have adequate inventory on hand. The second important aspect is to carry a little amount of inventory as possible.

b)

Summary Introduction

To determine: The optimal order quantity.

c)

Summary Introduction

To determine: The price at which the company should order.

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Answer 4

Question

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The number of orders the company should make.

Inventory and supply chain models:

The functions of inventory and supply chain are one of the most important business decision areas for an organization. The first important aspect of these concepts is to have adequate inventory on hand. The second important aspect is to carry a little amount of inventory as possible.

b)

Summary Introduction

To determine: The optimal order quantity.

c)

Summary Introduction

To determine: The price at which the company should order.

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Answer 5

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The number of orders the company should make.

Inventory and supply chain models:

The functions of inventory and supply chain are one of the most important business decision areas for an organization. The first important aspect of these concepts is to have adequate inventory on hand. The second important aspect is to carry a little amount of inventory as possible.

b)

Summary Introduction

To determine: The optimal order quantity.

c)

Summary Introduction

To determine: The price at which the company should order.

Answer 6

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The number of orders the company should make.

Inventory and supply chain models:

The functions of inventory and supply chain are one of the most important business decision areas for an organization. The first important aspect of these concepts is to have adequate inventory on hand. The second important aspect is to carry a little amount of inventory as possible.

Answer 7

Chapter 12, Problem 32P

a)

Summary Introduction

To determine: The number of orders the company should make.

Inventory and supply chain models:

The functions of inventory and supply chain are one of the most important business decision areas for an organization. The first important aspect of these concepts is to have adequate inventory on hand. The second important aspect is to carry a little amount of inventory as possible.

Answer 8

b)

Summary Introduction

To determine: The optimal order quantity.

Answer 9

b)

Summary Introduction

To determine: The optimal order quantity.

Answer 10

c)

Summary Introduction

To determine: The price at which the company should order.

Answer 11

c)

Summary Introduction

To determine: The price at which the company should order.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 12.4 - Prob. 1P Ch. 12.4 - Prob. 2P Ch. 12.4 - Prob. 3P Ch. 12.4 - Prob. 4P Ch. 12.4 - Prob. 5P Ch. 12.4 - Prob. 6P Ch. 12.4 - Prob. 7P Ch. 12.4 - Prob. 8P Ch. 12.4 - Prob. 9P Ch. 12.4 - Prob. 10P

Solution Summary: The author explains the functions of inventory and supply chain, which are one of the most important business decision areas for an organization.

Concept explainers

To determine: The optimal order quantity.

To determine: The price at which the company should order.

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Chapter 12 Solutions