Reference no: EM131258813
Suppose you are the inventory manager of a Best Buy store. You are particularly interested in finding a good inventory policy for 32” Sony Wega TV. Since the store is new, you rely on information that you obtained from other stores in the Greater Philadelphia area. Joe, the manager at Kings of Prussia says “Well buddy, I have the perfect inventory policy that I can tell you. I’ve been using it here for the last 5 years, and I haven’t had a stock out. Then you obtain from him the following information:
Demand for Wega-32 TV follows a normal distribution with average annual demand of 120, and a standard deviation of 60. Joe follows a base stock policy with base stock level of 10. The lead time for Wega-32 TV is 1 month.
(a) Do you agree with Joe in terms of not losing one customer due to stockouts?
(b) Your inventory theory knowledge tells you that the normal distribution may not be appropriate and you think that Poisson should be used instead. Using the Poisson distrubtion, what is the fill rate achieved by Joe? Compare this fill rate with your answer in part (a)
(c) Not satisfied with the fill rate achieved using the base stock policy, you decide that a (Q, r) model should provide better customer service at a lower inventory cost. Calculate the inventory policy that should be implemented to obtain a fill rate of 90%. The order cost is $35, the company use a holding cost rate of 10% per $/per year. The cost of a TV is $500. What is the backorder level, the inventory level, and the safety stock?
(d) After you implement the (Q, r) policy, you find that the lead time is variable, and you decide to model the lead time as a random variable with a mean of 1 month and a standard deviation of 1 week. Furthermore, if you have a stockout you lose the customer, which is estimated that will represent a loss of profit. The average profit for a TV is 20%. Use the stockout approach to calculate the optimal inventory policy. Make sure that the recommended inventory policy achieves a minimum service level of 90%.
|
Evaluate the impact of lateral segmentation
: Evaluate the impact of lateral segmentation in encouraging marketing managers to look broadly at markets in order to identify previously overlooked opportunities.
|
|
Get output waveform as squarewave
: You need to get output waveform as given in file from avialble squarewave
|
|
Describe how these differ from the education requirements
: Provide the education requirements, job functions, and salary for your chosen medical profession in the chosen country. Describe how these differ from the education requirements, job functions, and salary in the United States.
|
|
Does this sample pose a threat to groundwater in michigan
: The State of Michigan Department of Environmental Quality has deter-mined that toxaphene concentrations in soil that exceed 60 pg/kg can pose a threat to underlying groundwater.
|
|
Particularly interested in finding good inventory policy
: Suppose you are the inventory manager of a Best Buy store. You are particularly interested in finding a good inventory policy for 32” Sony Wega TV. Do you agree with Joe in terms of not losing one customer due to stockouts? Your inventory theory know..
|
|
Analyze the resulting market-product combination
: With this information, construct a Market-Product Grid for your selected health care entity. With the grid, you should, at a minimum, analyze the resulting market-product combination. Prepare to discuss.
|
|
What other avenues may better educate the general public
: The media, and Hollywood in particular, represent one avenue in which the general public becomes familiar with the role of nurses. How does the media positively or negatively influence the public's image of nursing?
|
|
The net realizable value of accounts receivable
: Malcom's financial statements revealed uncollectible accounts expense of $8,000, accounts receivable of $140,000, and allowance for uncollectible accounts of $12,000. The net realizable value of Malcom's accounts receivable is:
|
|
Group-term life insurance policy equal to annual salary
: Terry Francona is a 55-year old employee of Sawks, Inc. Sawks covers all employees under a group-term life insurance policy equal to their annual salary. Terry's annual salary is equal to $180,000. What amount, if any, must Terry include in his annua..
|