A local boutique hotel purchases boxes of luxury soap using a periodic review system. The average usage for the soap is 725 bars per week with a standard deviation of 150 bars per week it costs $20 to process each order and there is a1 week lead-time for every order, The holding cost for soap is $2 per bar per year. The hotet operates 52 weeks per year. The company places an onter once very twe weeks, ordering up to a target level of 2,475 bars Appronimately what service level is achieved? O RS O 75% O ON O92.5% O o o o
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- Golden Crust Bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual holding costs are $75 per bag. Once an order for flour is placed, it takes six (6) days to receive the order from the flour factory. The bakery operates 350 days per year. Calculate the following: Economic Order Quantity Expected number of orders (Order Frequency) Average inventory The annual holding cost The annual ordering cost The total annual cost of inventory management Reorder point If holding costs were to increase by $9 per year, how much would that affect the minimum total annual cost?Golden Crust Bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags ayear. Preparing an order and receiving a shipment of flour involves a cost of $10 per order.Annual holding costs are $75 per bag. Once an order for flour is placed, it takes six (6) days toreceive the order from the flour factory. The bakery operates 350 days per year.Calculate the following:(i) Economic Order Quantity(ii) Expected number of orders (Order Frequency)(iii) Average inventory(iv) The annual holding cost(v) The annual ordering cost(vi) The total annual cost of inventory management(vii) Reorder point(viii) If holding costs were to increase by $9 per year, how much would thataffect the minimum total annual cost?The annual demand for the Super Thrive brand plant food manufactured by Cumberbatch and Dunst Indoor Plants Company is 120,000 pounds. The annual holding cost (also known as carrying charge) is $0.05 per pound, and Operations Manager Kirsten Benedict has calculated the cost of setting up machinery for making the plant food to be $20. 1) What is the annual holding (carrying) cost for the EOQ that you calculated ? plz send answer fast.
- Dunstreet’s Department Store would like to develop an inventory ordering policy of a 95 percent probability of not stocking out. To illustrate your recommended procedure, use as an example the ordering policy for white percale sheets. Demand for white percale sheets is 5,000 per year. The store is open 365 days per year. Every two weeks (14 days) inventory is counted and a new order is placed. It takes 10 days for the sheets to be delivered. Standard deviation of demand for the sheets is five per day. There are currently 150 sheets on hand. How many sheets should you order?Dunstreet's Department Store would like to develop an inventory ordering policy of a 90 percent probability of not stocking out. To illustrate your recommended procedure, use as an example the ordering policy for white percale sheets.Demand for white percale sheets is 3,400 per year. The store is open 365 days per year. Every two weeks (14 days) inventory is counted and a new order is placed. It takes 12 days for the sheets to be delivered. Standard deviation of demand for the sheets is five per day. There are currently 170 sheets on hand. How many sheets should you order?Sam's Pet Hotel operates 52 weeks per year, 6 days per week, and uses a continuous review inventory system. It purchases kitty litter for $13.00 per bag. The following information is available about these bags: ≻Demand=75 bags/week ≻Order cost=$55.00/order ≻Annual holding cost=25 percent of cost ≻Desired cycle-service level=80 percent ≻Lead time=4 weeks (24 working days) ≻Standard deviation of weekly demand=15 bags ≻Current on-hand inventory is 320 bags, with no open orders or backorders. Part 2 a. Suppose that the weekly demand forecast of 75 bags is incorrect and actual demand averages only 50 bags per week. How much higher will total costs be, owing to the distorted EOQ caused by this forecast error? The costs will be $enter your response here higher owing to the error in EOQ. (Enter your response rounded to two decimal places.) a. What is the EOQ? What would the average time between orders (in weeks)? b. What should R be? c. An inventory withdraw…
- Scotch Pub bar sells Speylachie high-end whiskey among other beverages. The demand for Speylachie is normally distributed. The inventory related information at Scotch Pub is as follows: Average Annual Demand = 2,500 liters Standard deviation of weekly demand = 22 liters One-liter bottle cost = bought at £112.50 per bottle from a brewery in Scotland Ordering cost = £144.00 per order Lead time = 3 weeks Annual inventory-holding cost estimate = 4% of the bottle cost Required service level = 95% Scotch Pub works 50 weeks a year. Note: The approximate z values are: for 0.9 ≈ 1.28, for 0.92 ≈ 1.405, for 0.95 ≈ 1.645, for 0.98 ≈ 2.05. Suppose the bar management practices the fixed-PERIOD ordering system with the review period equal to the “economic time interval”. Answer the following questions: (i) When do they place an order? (ii) If at the time of review there are 333 bottles are available in the stock, how many bottles of Speylachie they will order? (iii) What is the…University Drug Pharmaceuticals orders its antibiotics every two weeks (14 days) when a salesperson visits from one of the pharmaceutical companies. Tetracycline is one of its most prescribed antibiotics, with average daily demand of 2,000 capsules. The standard deviation of daily demand was derived from examining prescriptions filled over the past three months and was found to be 800 capsules. It takes f ive days for the order to arrive. University Drug would like to satisfy 99 percent of the prescriptions. The salesperson just arrived, and there are currently 25,000 capsules in stock.How many capsules should be ordered?H & K Electronic Warehouse sells a 12-pack of AAA batteries, and this is a very popular item. Demand for this is normally distributed, with an average of 50 packs per day and a standard deviation of 16. The average delivery time is 5 days, with a standard deviation of 2 days. Delivery time has been found to be normally distributed. A 96% service level is desired. What is the standard deviation of demand during the lead time? How much safety stock should be carried, and what should be the reorder point
- A sports fan store sells hats. The following are associated characteristics for hats Annual Demand 16000 units Ordering costs $26 Holding costs $4 per unit/year **round all your answers to the nearest whole number a) The EOQ for the hats is b) The annual holding costs for the hats at the EOQ are c) The annual ordering costs for the hats at the EOQ are 2. Antique manufactures old-fashioned telephones for use in movie scenes (and other displays). Antique's annual demand for rotary telephones is 33,000 units per year, so it needs just as many receptors to assemble the phones. Receptors are ordered from a supplier, and shipping and handling costs are $15 per order (regardless of how many units are on order). The holding costs are $7/unit/year. If the current company policy calls for orders of 3,000 receptors, what are the total annual inventory costs for the receptors? round your final answer to the nearest whole dollar.The manager of the Quick Stop Corner Convenience Store (which never closes) sells four cases of Stein beer each day. Order costs are $8.00 per order, and Stein beer costs $0.80 per six-pack (each case of Stein beer contains four six-packs). Orders arrive three days from the time they are placed. Daily holding costs are equal to 5 percent of the cost of the beer.At what point should he reorder Stein beer?Johnson's Juice sells bottles of "keep me awake during class" fruit juice to college students. Annual demand is 88,000 bottles. The company uses an annual holding cost percentage of 16% in its setup cost is $45 per order. The current price per bottle from the supplier is $.75, and Johnson's Juice resells it to customers for $2.00 each. However, the supplier has notified Johnson's Juice that starting nect week the purchase price will rise to $1.15 due to tariffs imposed by the government. Johnson's inventory of bottles is about to be depleted. How many bottles should Johnson's jiuce purchase in the next order. (assume the bottles are full of chemicals so the juice will never expire.)