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MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months)
8th Edition
ISBN: 9781337274876
Author: Cliff Ragsdale
Publisher: Cengage Learning US
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Suppose that you have a fleet of dry bulk, tanker and combined carriers. You should determine a chartering strategy for the vessels in accordance with the changes in the freight market.
A supplier ships goods from Richmond, VA to three market places in 3 cities (Chicago, IL; Athens, GA;
St. Luis, MO). The supplier can ship every day, every other day, or every third day.
There is a penalty of $0.30/cwt for each day delayed.
Consolidating shipments allows for lower transportation costs from larger loads, but incurs penalty
costs due to the delay.
Transportation Rate
(S/cwt)
Shipment
City
Weight/day
LTL
50,000 lb
50000 Ib
Chicago, IL
18,000 lb (180 cwt)
1.50
1.25
Athens, GA
15,000 lb (150 cwt)
1.35
1.00
St. Luis, MO
12,000 lb (120 cwt)
2.00
1.50
Total
45,000 lb = 450 cwt
!3!
Find what is the cost for the following:
Shipping Every Day
Shipping on the alternate Day (every two days)
Shipping every three Day
A supplier ships goods from Richmond, VA to three market places in 3 cities (Chicago, IL; Athens, GA;
St. Luis, MO). The supplier can ship every day, every other day, or every third day.
There is a penalty of $0.30/cwt for each day delayed.
Consolidating shipments allows for lower transportation costs from larger loads, but incurs penalty
costs due to the delay.
Transportation Rate
(S/cwt)
Shipment
City
Weight/day
LTL
50,000 lb
50000 lb
Chicago, IL
18,000 lb (180 cwt)
1.50
1.25
Athens, GA
15,000 lb (150 cwt)
1.35
1.00
St. Luis, MO
12,000 lb (120 cwt)
2.00
1.50
Total
45,000 Ib = 450 cwt
Find what is the cost for the following:
Shipping Every Day
Shipping on the alternate Day (every two days)
Shipping every three Day
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