03) The cost for a product B is 18 TL per unit. Holding cost is 16 TL per unit per quarter and ordercost is given as 750 TL. Find optimal lot sizing for product B using Wagner whitin algorithm. Demandfor upcoming quarters are given below.Demand Quarter1 Quarter2 Quarters Quarter4225180345267B.

Inventory management is part of the production management of a firm involving collecting organizing…

Answered: Q3) The cost for a product B is 18 TL…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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6 5 7 8 Assume the lead time is 1.5 weeks, the inventory period is 4.6 weeks, and the stockout level is 10%. Week Demand 1 3 2 470 424 467 412 426 426 480 507 487 44 9 10 Note: Use Excel function to find Mean and Sample Demand Variance of the dataset. Q13.1. The Reorder point is approximately - Q13.2. The Lot size (Q) is Formulas: ROP = Mean*Lead time +Z*sqrt (Variance* Lead time) Lot size = Mean Demand * Inventory Period. (Q=M*T) 401 LL 44 LT
SOLVE THE NEWSPERSON PROBLEM. PROBABILITY 0.24 0.08 0.21 0.16 0.08 0.23 VALUE 1 2 3 4 5 6 PURCASE COST C = 12 SELLING PRICE P = 28 SALVAGE VALUE V = 4 What is the optimal order quantity?
Solve the newsperson problem. Probability 0.15 0.16 0.18 0.18 0.14 0.19 Value 1 2 m 4 5 6 Purchase cost c Selling price p Salvage value v 222 20 28 15 What is the optimal order quantity?
Mary hopes to sell 10,000 pieces of chrysanthemum last November but she was able to sell 15,000 chrysanthemum. Her chrysanthemum is sold at 20 pesos each. Her total expenses was 150,000, hence, cost per unit is 15.00. What was her sales volume variance? * 15,000 75,000 25,000 O 100,000
2) Daily demand for a product is normally distributed with a mean of 100 and a standard deviation of 12. The lead time is normally distributed with a mean of 5 days and a standard deviation of 1.5 days. a) What is the ROP to satisfy a %90 probability of not stocking out? b) What is the safety stock? c) What is the probability of stocking out if the manager has decided not to keep any safety stock? What is the Z value, and what is the probability?
Inventory management Problem 1: Analysis ABC Stock part number Annual Volume ($) Annual Volume percentage (%) J24 12.500 46,2 R26 9.000 33,3 L02 3.200 11,8 M12 1.550 5,8 P33 620 2,3 T72 65 0,2 S67 53 0,2 Q47 32 0,1 V20 30 0,1 S = 100,0 Which are the suitable ABC groups for the stock articles?
10. A company will sell remote control devices online. Expected yearly demand is 3000 units and it is sold per 250TL. The controllers can be purchased from supplier A. Ordering cost is 40 TL and annual holding cost is 25% of the price. a. Calculate the economic order quantity for the company. b. Calculate the number of orders per year. c. List the assumptions of EOQ model that you used to calculate the value in part A.
1. Forrest and Dan make boxes of chocolates for which the demand is uncertain. Forrest says, "That's life." On the other hand, Dan believes that some demand patterns exist that could be useful for planning the purchase of sugar, chocolate, and shrimp. Forrest insists on placing a surprise chocolate-covered shrimp in some boxes so that "You never know what you'll get." Quarterly demand (in boxes of chocolates) for the last three years is shown in the table below: b. If the expected sales for chocolates are 14,400 cases for year 4, use the multiplicative seasonal method to prepare a forecast for each quarter of the year. (Round all intermediate calculations to two decimal places.) The first quarter forecast is what? boxes of chocolates. (Enter your response rounded to the nearest whole number.)
M. P. VanOyen Manufacturing has gone out on bid for a regulator component. Expected demand is 725 units per month. The item can be purchased from either Allen Manufacturing or Baker Manufacturing. Their price lists are shown in the table. Ordering cost is $50, and annual holding cost per unit is $4. Allen Mfg. Quantity 1-499 Baker Mfg. Quantity Unit Price Unit Price $16.00 1-399 $16.10 500-999 15.50 400-799 15.60 1000+ 15.00 800+ 15.10 a) What is the economic order quantity if price is not a consideration? units (round your response to the nearest whole number).
Solve the newsperson problem. Probability 0.11 0.15 Value 1 2 Purchase cost c Selling price p Salvage value v = |||||| Optimal order quantity = 0.24 3 13 29 양 11 What is the optimal order quantity? 0.28 4 0.16 5 0.06 6
M. P. VanOyen Manufacturing has gone out on bid for a regulator component. Expected demand is 725 units per month. The item can be purchased from either Allen Manufacturing or Baker Manufacturing. Their price lists are shown in the table. Ordering cost is $50, and annual holding cost per unit is $6. Allen Mfg. Quantity 1-499 Baker Mfg. Unit Price Quantity Unit Price $16.00 1-399 $16.10 15.50 15.00 400-799 800+ 500-999 1000+ 15.60 15.10 a) What is the economic order quantity if price is not a consideration? 381 units (round your response to the nearest whole number). b) Which supplier, based on all options with regard to discounts, should be used? Allen Mfg. c) What is the optimal order quantity and total annual cost of ordering, purchasing, and holding the component? The optimal order quantity is ☐ with a total cost of $ (round your responses to the nearest whole number).
1. Suppose the demand of a product in a retail store is 800 per year and it occurs at a constant rate. Placement of an order of this product to an outside supplier by the store is 40 Dollar. The super market authority has calculated the inventory holding cost per unit per year as 90 cents. Assuming no occurrence of shortages of the product, find a) i. the minimal order quantity of the product from the outside supplier if the product is not allowed to sell during production. ii. the minimal number of orders per year. Explain whether the nearest integer number of orders per year is justified. iii. the cycle time of a lot in months. iv. the annual minimal total cost of ordering and inventory holding for that minimal order quantity. v. the reorder point if the lead time of delivering a lot is 2 days,? b) If the production rate of processing the product is 1200 per year and the set up cost per set up is 65 Dollar. If the selling of the product is allowed during production, determine i) the…

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