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A coffee store is experiencing sales of 280 pounds of coffee beans per year. The supplier charges the store $2.40 per pound, and the paperwork and labor costs incurred by the store in placing an order total $45 per order. Holding costs are based on 20% interest rate per annum.
Answer the following questions:
1) What is the optimal order size (write down the model name, its parameters and formula)?
2) What is the time between order placements (include the formula)?
3) What is the average annual holding cost (include the formula)?
4) If the lead time is 3 weeks, what is the reorder level based on inventory on hand (include the formula)?
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Analyze and critique the NMCI project in terms of its:· risk identification and management
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What factors should be considered when developing inventory systems for the 10,000 items carried by Dano's. What are the key differences between items that would affect how their inventory is managed
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If you are using a project from a volunteer role or past employment, indicate that feature and specifically request feedback on the viability of your selection from your classmates.
What processes at manufacturing firms are really service processes that involve considerable customer contact? Please be specific. Can customer contact be high, even if the process only has internal customers? Please explain.
Identify the five forces that help evaluate a firm`s competitive position in light of the structure of its industry. Which one is the most important to a firm and why?
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A dry cleaner uses exponential smoothing to forecast equipment usuages at its main plant. August usage was forecasted to be 88 percent of capacity; actual usage was 89.6 percent of capacity. A smoothing constant of .1 is used.
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