Essentials of Organizational Behavior (14th Edition)
14th Edition
ISBN: 9780134523859
Author: Stephen P. Robbins, Timothy A. Judge
Publisher: PEARSON
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Chapter 5, Problem 1PIA
Summary Introduction
To explain: The personality of Person X.
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Sam's Pet Hotel operates 48 weeks per year, 6 days per week, and uses a continuous review inventory system. It purchases kitty litter for $13.00 per bag
The following information is available about these bags:
> Demand
85 bags/week
>Order cost $60.00/order
> Annual holding cost = 35 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 85 bags is incorrect and actual demand averages only 65 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.)
Osprey Sports stocks everything that a musky fisherman could want in the Great North Woods. A particular musky lure has been very popular with local fishermen as well as those who buy lures on the Internet from Osprey Sports. The cost to place orders with the supplier is
$3030/order;
the demand averages
55
lures per day, with a standard deviation of
11
lure; and the inventory holding cost is
$1.001.00/lure/year.
The lead time form the supplier is
1010
days, with a standard deviation of
33
days. It is important to maintain a
9898
percent cycle-service level to properly balance service with inventory holding costs. Osprey Sports is open 350 days a year to allow the owners the opportunity to fish for muskies during the prime season. The owners want to use a continuous review inventory system for this item. Refer to the
standard normal table
LOADING...
for z-values.
Part 2
a. What order quantity should be used?
enter your response here
lures. (Enter your response rounded to the…
9. Research Methodology
Fully explain the Quantitative research methodology that and add in the following
sub-sections:
. Data Collection
•
Data Analysis
Chapter 5 Solutions
Essentials of Organizational Behavior (14th Edition)
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