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In a medical device plant, a semi-assembled part ME-CGV is used, for a device used in the heart. Its monthly use is 10,000 pieces, each piece costs $ 30 and the inventory rate on its costs is 15%. The costs per order are $ 300 and the manufacturer's lead time is 0.5 months. But if you order a parts container containing 24,000 units from the manufacturer, the cost (purchase price) would drop to $ 27. The delivery time increases by the quantity to 1.25 months and also the order cost would rise to 400 dollars. Consider that the working days are 250 days/year. Answer the following:
1. What should your order amount be based on EOQ?
2. Calculate the total costs
3. What is the total cost if they order the largest volume accepting the quantity discount?
4. What would be the optimal inventory policy? (Q * [Q] with the best cost and ROP [R]) [Other authors usually just say: what is the optimal inventory policy [Q and R]
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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.
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