Reference no: EM131929725
Question: Troy's Tires sells a certain brand tire which has a daily demand that is normally distributed, with a mean of 15 tires and a standard deviation of 4 tires. (In your model use integers for all demands.) Troy's Tires replenishes its inventory by ordering 250 tires from the factory whenever its current inventory reaches 40 tires. The lead time (in days) to receive an order from the factory follows the distribution shown in the following table:
The cost to hold 1 tire in inventory for one day is $0.20. The cost to place an order with the factory is $100. Stockout costs are estimated at $10 per tire. The initial inventory level is 100 tires.
(a) Simulate 6 months (180 days) of operation to calculate the total semiannual cost and the percentage of stockouts for the period. Replicate these calculations N times each to calculate the average values for these measures.
(b) Troy's Tires would like to evaluate the economics of ordering 150, 200, 250, 300, and 350 tires, with a reorder point of 40 tires. Based on the average total semiannual cost, which order quantity would you recommend?
(c) Troy's Tires would like to evaluate the economics of ordering 250 tires, with reorder points of 40, 50, 60, 70, and 80 tires. Based on the average total semiannual cost, which reorder point would you recommend?
|
How the apple ipod fits into the razor and blade pattern
: Question: Explain how the Apple iPod fits into the Razor and Blade pattern.
|
|
Review the music mania problem
: Music Mania would like to evaluate ordering 250, 300, 350, and 400 MP3 players when the reorder point of 80 is reached. Based on the average total quarterly.
|
|
Robin hood business model
: TOMS shoes uses the Robin Hood business model. Briefly describe the Robin Hood model and explain how TOMS' model fits this pattern.
|
|
Actively engage in implementation of efficient health
: Analyze the key reasons why healthcare organization managers and leaders must understand and actively engage in the implementation of efficient health
|
|
Which reorder point would you recommend
: Troy's Tires would like to evaluate the economics of ordering 250 tires, with reorder points of 40, 50, 60, 70, and 80 tires.
|
|
Hospital risk management
: Search for at least two "Hospital Risk Management" articles and provide an essay reviewing your findings.
|
|
Explain which theory or theories are being used by jessica
: Explain which theory or theories are being used by Jessica, Marco, Maria, and Dr. Wilson to determine the moral status of the fetus?
|
|
Can all jobs be enriched
: Can all jobs be enriched? Even if a particular job can be enriched, does that always mean that it should be enriched? Please explain your position.
|
|
Calculate the average profit per flight
: Set up a simulation model and calculate Ashcroft's profit per flight. Replicate the calculation N times each to calculate the average profit per flight.
|