User Account

All Pages

What is the revised reorder point

Assignment Help Operation Management
Reference no: EM132728758

Floyd Distributors, Inc. provides a variety of auto parts to small local garages. Floyd purchases parts from manufacturers according to the EOQ model and then ships the parts from a regional warehouse direct to its customers. For a particular type of muf?er, Floyd's EOQ analysis recommends orders with Q* = 25 to satisfy an annual demand of 200 muf?ers. Floyd's has 250 working days per year, and the lead time averages 15 days.

What is the reorder point if Floyd assumes a constant demand rate?

Suppose that an analysis of Floyd's muf?er demand shows that the lead-time demand follows a normal probability distribution with µ = 12 and σ = 2.5. If Floyd's management can tolerate one stock out per year, what is the revised reorder point?

Reference no: EM132728758

Questions Cloud

Develop a three-week moving average : Develop a three-week moving average for this time series. Compute MSE and a forecast for week 8.
Describe the use of social media and mobile applications : Reflect on current and potential future trends, such as use of social media and mobile applications/telehealth, Internet of Things (IoT)-enabled asset tracking.
Compute mse and a forecast for week 8 : c. Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 8
How journalize the entry to record the issuance of the bonds : Pays semiannual interest of $54,000 ($1,800,000 X 6% X V), receiving cash of $1,725,151. Journalize the entry to record the issuance of the bonds.
What is the revised reorder point : If Floyd's management can tolerate one stock out per year, what is the revised reorder point?
Prepare correcting general journal entries required at dec : Prepare correcting general journal entries required at December 31, 2019, assuming that the books have not been closed. (If no entry is required)
Improving the performance of supply chain : Explain how a firm can reduce costs while improving the performance of its supply chain.
Global organizational performance : How does the unity or disunity of the corporate culture and ethics affect global organizational performance?
How much of the costs should be capitalised : Using the principles of IAS 16 how much of the costs should be capitalised? Labour costs, including $90,000 incurred during an industrial dispute.

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd