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!
A purchased product, sold in a retail store, has a normally distributed daily demand, with a mean of 8 units/day and a variance of 4 (units)2. Its supply lead time is 6 days and the store is open 365 days a year. Currently, this item's inventory replenishment policy is based on a periodic review system with a review period of 30 days (dictated by the supplier) and an order-up-to level, i.e. maximum inventory position, of 250 units. The purchase cost of this product is $16 per unit, its ordering cost is $50 per order and the store's inventory carrying cost rate is $0.25/$/year. It is also estimated that the cost of not having sufficient stock to satisfy this item's demand routinely off the shelf is $40 per stockout incident.
(a) What is this item's cycle service level under the current ordering policy? Also, compute the average number of days between consecutive stockouts and the annual expected total relevant cost for this product.
(b) Based on a reassessment of current policy, management has specified that it is willing to tolerate an average of no more than one stockout per year for this item. How would you modify the current ordering policy to satisfy this requirement and what would be the resulting annual expected total relevant cost?
Game Theory Game theory was developed for the purpose of analyzing competitive situation involving conflicting interests. In game theory, there are assumed to be two or more pe
Illustrate the concept of Cost The term cost indicates the amount of expenditure (actual or national) incurred on, or attributable to, a specified thing or thing or cost unit.
Your company is considering investing in its own transport fleet. The presentposition is that carriage is contracted to an outside organization. The life of thetransport fleet woul
importance of ratio analysis
Determine the cost according to normality According to normality: under this category cost may be categorized as follows: Normal cost: it is the cost which is normally i
identify and explain the many classification of costs for planning, control,performance evaluation and decision making.
Std error of the slope (Sb) Correlation coefficient measures the degree of association between two variables such as the cost and the activity level. The standard error of ‘
5
Comparing real and planned outcomes and responding to Divergences from Plan The final phases in the process outlined in figure shown below of comparing real and planned outcome
given the above data what would the breakeven in units and dollars be if u wanted a necessary after tax profit of $ 36,000 (assume a 30% tax rate ) units __________ ales dollars _
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd