Purchasing and Supply Chain Management
6th Edition
ISBN: 9781305809789
Author: MONCZKA
Publisher: Cengage
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Question
Chapter 8, Problem 15DQ
Summary Introduction
To explain: The way a buyer can utilize ISO 14001:2004 to improve the environmental performance of the supplier.
Supplier
It is the system which the quality of the suppliers is managed by following a proactive and collaborative approach. It is a catalyst for management to handle costs and ensure quality in the suppliers.
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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.)
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