Optimal size of the production run for this particular compound is to be calculated. Concept Introduction: Economic order quantity, often called EOQ refers to the order quantity that helps an organization to maintain its inventory level and to minimize holding and order cost for the organization’s business.

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Answer 1

Question

Chapter 4.6, Problem 17P

a.

Summary Introduction

Interpretation: Optimal size of the production run for this particular compound is to be calculated.

Concept Introduction:

Economic order quantity, often called EOQ refers to the order quantity that helps an organization to maintain its inventory level and to minimize holding and order cost for the organization’s business.

b.

Summary Introduction

Interpretation: Proportion of each production cycle that consist uptime and downtime is to be determined.

Concept Introduction:

Uptime refers to the ration of the total time during which the tools or machinery is operational. On the other hand downtime refers to the ratio of the total time during which the tools or machinery is non-operational.

c.

Summary Introduction

Interpretation: Average annual cost of holding and setup attributes to the given item along with the annual profit the company is realizing with the given item, if the compound sell become $3.90 is to be determined.

Concept Introduction:

Holding cost is related to the stored inventory which remains unsold. An organization’s holding cost is the cost of damaged or spoiled goods, labor, and space.

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1) View the video Service Processing at BuyCostumes (10.41 minutes, Ctrl+Click on the link); what are your key takeaways (tie to one or more of the topics discussed in Chapter 3) after watching this video. (viddler.com/embed/a6b7054c) Note: As a rough guideline, please try to keep the written submission to one or two paragraphs. 2) Orkhon Foods makes hand-held pies (among other products). The firm’s weekly sales of hand-held pies over the past seven weeks are given in the table. The firm’s operations manager, Amarjargal, wants to forecast sales for week 8. Weeks Sales of hand-held pies(000s) 1 19 2 18 3 17 4 20 5 18 6 22 7 20 Forecast the week 8 sales using the following approaches: a) Naïve approach b) 5-month moving average c) 3-month weighted moving average using the following weights: 0.50 for week 7, 0.30 for week 6, and 0.20 for week 5. d) Exponential smoothing using a smoothing constant of 0.30, assume a…

Answer 2

Question

Chapter 4.6, Problem 17P

a.

Summary Introduction

Interpretation: Optimal size of the production run for this particular compound is to be calculated.

Concept Introduction:

Economic order quantity, often called EOQ refers to the order quantity that helps an organization to maintain its inventory level and to minimize holding and order cost for the organization’s business.

b.

Summary Introduction

Interpretation: Proportion of each production cycle that consist uptime and downtime is to be determined.

Concept Introduction:

Uptime refers to the ration of the total time during which the tools or machinery is operational. On the other hand downtime refers to the ratio of the total time during which the tools or machinery is non-operational.

c.

Summary Introduction

Interpretation: Average annual cost of holding and setup attributes to the given item along with the annual profit the company is realizing with the given item, if the compound sell become $3.90 is to be determined.

Concept Introduction:

Holding cost is related to the stored inventory which remains unsold. An organization’s holding cost is the cost of damaged or spoiled goods, labor, and space.

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Answer 3

Question

Chapter 4.6, Problem 17P

a.

Summary Introduction

Interpretation: Optimal size of the production run for this particular compound is to be calculated.

Concept Introduction:

Economic order quantity, often called EOQ refers to the order quantity that helps an organization to maintain its inventory level and to minimize holding and order cost for the organization’s business.

b.

Summary Introduction

Interpretation: Proportion of each production cycle that consist uptime and downtime is to be determined.

Concept Introduction:

Uptime refers to the ration of the total time during which the tools or machinery is operational. On the other hand downtime refers to the ratio of the total time during which the tools or machinery is non-operational.

c.

Summary Introduction

Interpretation: Average annual cost of holding and setup attributes to the given item along with the annual profit the company is realizing with the given item, if the compound sell become $3.90 is to be determined.

Concept Introduction:

Holding cost is related to the stored inventory which remains unsold. An organization’s holding cost is the cost of damaged or spoiled goods, labor, and space.

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Answer 4

Question

Chapter 4.6, Problem 17P

a.

Summary Introduction

Interpretation: Optimal size of the production run for this particular compound is to be calculated.

Concept Introduction:

Economic order quantity, often called EOQ refers to the order quantity that helps an organization to maintain its inventory level and to minimize holding and order cost for the organization’s business.

b.

Summary Introduction

Interpretation: Proportion of each production cycle that consist uptime and downtime is to be determined.

Concept Introduction:

Uptime refers to the ration of the total time during which the tools or machinery is operational. On the other hand downtime refers to the ratio of the total time during which the tools or machinery is non-operational.

c.

Summary Introduction

Interpretation: Average annual cost of holding and setup attributes to the given item along with the annual profit the company is realizing with the given item, if the compound sell become $3.90 is to be determined.

Concept Introduction:

Holding cost is related to the stored inventory which remains unsold. An organization’s holding cost is the cost of damaged or spoiled goods, labor, and space.

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Answer 5

Chapter 4.6, Problem 17P

a.

Summary Introduction

Interpretation: Optimal size of the production run for this particular compound is to be calculated.

Concept Introduction:

Economic order quantity, often called EOQ refers to the order quantity that helps an organization to maintain its inventory level and to minimize holding and order cost for the organization’s business.

b.

Summary Introduction

Interpretation: Proportion of each production cycle that consist uptime and downtime is to be determined.

Concept Introduction:

Uptime refers to the ration of the total time during which the tools or machinery is operational. On the other hand downtime refers to the ratio of the total time during which the tools or machinery is non-operational.

c.

Summary Introduction

Interpretation: Average annual cost of holding and setup attributes to the given item along with the annual profit the company is realizing with the given item, if the compound sell become $3.90 is to be determined.

Concept Introduction:

Holding cost is related to the stored inventory which remains unsold. An organization’s holding cost is the cost of damaged or spoiled goods, labor, and space.

Answer 6

Chapter 4.6, Problem 17P

a.

Summary Introduction

Interpretation: Optimal size of the production run for this particular compound is to be calculated.

Concept Introduction:

Economic order quantity, often called EOQ refers to the order quantity that helps an organization to maintain its inventory level and to minimize holding and order cost for the organization’s business.

Answer 7

Chapter 4.6, Problem 17P

a.

Summary Introduction

Interpretation: Optimal size of the production run for this particular compound is to be calculated.

Concept Introduction:

Economic order quantity, often called EOQ refers to the order quantity that helps an organization to maintain its inventory level and to minimize holding and order cost for the organization’s business.

Answer 8

b.

Summary Introduction

Interpretation: Proportion of each production cycle that consist uptime and downtime is to be determined.

Concept Introduction:

Uptime refers to the ration of the total time during which the tools or machinery is operational. On the other hand downtime refers to the ratio of the total time during which the tools or machinery is non-operational.

Answer 9

b.

Summary Introduction

Interpretation: Proportion of each production cycle that consist uptime and downtime is to be determined.

Concept Introduction:

Uptime refers to the ration of the total time during which the tools or machinery is operational. On the other hand downtime refers to the ratio of the total time during which the tools or machinery is non-operational.

Answer 10

c.

Summary Introduction

Interpretation: Average annual cost of holding and setup attributes to the given item along with the annual profit the company is realizing with the given item, if the compound sell become $3.90 is to be determined.

Concept Introduction:

Holding cost is related to the stored inventory which remains unsold. An organization’s holding cost is the cost of damaged or spoiled goods, labor, and space.

Answer 11

c.

Summary Introduction

Interpretation: Average annual cost of holding and setup attributes to the given item along with the annual profit the company is realizing with the given item, if the compound sell become $3.90 is to be determined.

Concept Introduction:

Holding cost is related to the stored inventory which remains unsold. An organization’s holding cost is the cost of damaged or spoiled goods, labor, and space.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 4.4 - Prob. 1P Ch. 4.4 - Prob. 2P Ch. 4.4 - Prob. 3P Ch. 4.4 - Prob. 4P Ch. 4.4 - Prob. 5P Ch. 4.4 - Prob. 6P Ch. 4.4 - Prob. 7P Ch. 4.4 - Prob. 8P Ch. 4.4 - Prob. 9P Ch. 4.5 - Prob. 10P

Solution Summary: The author explains that economic order quantity helps an organization to maintain its inventory level and to minimize holding and order cost for the organization's business.

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