Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. Thomas's fastest-moving inventory item has a demand of 6,000 units per year. The cost of each unit is $100, and the inventory carrying cost is $10 per unit per year. The average ordering cost is $30 per order. It takes about 5 days for an order to arrive, and the demand for 1 week is 120 units. (This is a corporate operation, and there are 250 working days per year.)
a) What is the EOQ?
b) What is the average inventory if the EOQ is used?
c) What is the optimal number of orders per year?
d) What is the optimal number of days in between any two orders?
e) What is the annual cost of ordering and holding inventory?
f ) What is the total annual inventory cost, including the cost of the 6,000 units?
Hill is now considering plan C. Beginning inventory, stockout costs, and holding costs are provided in Problem 13.3: a) Plan C: Keep a stable workforce by maintaining a constant production rate equal to the average requirements and allow varying inve..
Finding a location for electronics component manufacturing in Asia. This is a long-term, strategic decision; illustrate what factors might change in next 10 to 20 years? Elucidate how will this influence decision.
Annie and Bart are coworkers. In fact, they share a cubicle wall. Recently, they were involved in a fender-bender in the company parking lot. Each blames the other for the accident, and the two have stopped speaking. Would you advise them to try to s..
Nittany Shoe Repair estimates annual demand to be 625 pairs of soles. Holding costs are 20 percent of the unit price. The cost to place an order is $10. What is the optimal order size under EOQ
The project management methodology section should explain the project management model that will be used to manage the project. The project team section should explain the relationship among the team members and amplify their role based on your und..
Briefly summarize the main points of the Performance Improvement article. Discuss one item that you have learned from the reading and how you might benefit from the information. (In other words, how will this information affect your work as a Heal..
The deficiencies of popular business books such as In Search of Excellence were identified decades ago, yet the formula of studying “excellent” organizations continues to be a commercial success for authors. Why can authors still sell business books ..
Describe a workforce scheduling, a blending, and a logistics problem facing your current organization or industry. What is being optimized in each of your examples and why? How do linear optimization techniques differ from decision tree analysis? Whi..
Every month, each employee in your department is expected to give a brief oral presentation on status of his or her project. However, your department has recently hired an employee, originally from Asia, with a heavy accent that prevents people from ..
Identify some of the challenges that you will face in opening the new facility in your specific community, such as assembling and managing the required staff; providing the required services and resources; building rapport in the new community; en..
How many hours did the average laborer worked that month?
Recently, Phil Harris, the Production Control Manager at Brunswick, read an article on Time-Phased Requirements Planning. He was curious about how this technique might work in scheduling Brunswick's engine assembly operations.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd