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!
The Norwitch Company uses a continuous review (s, Q) system for inventory control. Weekly demand for an item, Pressure Valve #5 (PV5), is distributed Normally with a mean and standard deviation of 20 and 10 respectively. Norwitch uses an order quantity of 200 units for PV5 and its supplier takes 5 weeks to fill an order. Each unit of PV5 costs $50 and carrying charges are $0.20/$/yr. Norwitch uses a 99% fill rate as a target service measure.
(a) Compute the reorder point, s, that will satisfy Norwitch's target fill rate. What is the likelihood that Norwitch has stocked out of PV5 when a new shipment arrives from its supplier? (b) Suppose Norwitch has worked out a new contract, accepted by all its customers, of being allowed up to one week to satisfy each demand. Norwitch still uses a 99% "fill rate" as a target service measure. However, stockouts satisfied within a week is considered as good as demand satisfied from the on-hand inventory. How would you modify the logic of computing the re-order point, s, to take account of the one-week grace period? Sketch the average behavior of the (s,Q) system to illustrate your reasoning. (c) Compute the reorder point for the new contract. What is the safety stock? On an average, how much inventory Norwitch has on hand when a new shipment of PV5 arrives? (d) Estimate the annual cost savings due to the one-week grace period.
(e) What will be the impact of one-week grace period on Norwitch's customers? Should Norwitch and its customers make the inventory status of PV5 known to each other? What good will that do?
Twelve samples, each containing five parts, were taken from a process that produces steel rods. The length of each rod in the samples was determined. The results were tabulated and
How might a company's business strategy affect the contribution (pay-for-performance) policies and techniques of its Total Compensation system?
Name four methods of quantitative analysis that are useful in informing the facility location decision. How can each of the methods assist you in location decisions? Provide exampl
Determine which class protected by Title VII of the Civil Rights Act of 1964 had the greatest impact on the workforce of the 20th century. Next, determine which class might have th
Counteracting Prejudice One of the simplest and most powerful ways to counteract prejudice and discrimination is to articulate and share stereotypes and preconceived notions. How c
Types of Manufacturing System & Layout A layout essentially refers to the arranging and grouping of machines which are meant to produce goods. Grouping is done on different li
What is the current state of HRM-r related technologies in your organization? What are organizational leaders' positions as they relate to using HRM-r related technologies (for
what are the wastes and how to overcome them in an organisation?
Why are standards important in many industries? As standards get adapted and become dominant, how does this process influence the competitive nature of the industry? When Walmar
Discuss the supply management''s heightened concern for future acquisition needs - for example, capital equipment acquisition, supplies contract, standard commodity, etc.
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