Calculate the average inventory
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The following information relates to Unique Ltd for the year 2020:
Annual Demand 408,375 units
Annual cost of Holding £1.50
Annual cost of placing an order £ 500
Required:
(ii) Calculate the average inventory
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- The following information relates to Unique Ltd for the year 2020: Annual Demand 408,375 units Annual cost of Holding £1.50 Annual cost of placing an order £ 500Required: (iv) Calculate the total annual inventory cost (excluding the purchasecost)The following information relates to Unique Ltd for the year 2020: Annual Demand 408,375 unitsAnnual cost of Holding $1.50Annual cost of placing an order $500 (i) Calculate the EOQ (ii) Calculate the average inventory (iii) Calculate the total annual ordering cost (iv) Calculate the total annual inventory cost (excluding the purchase cost)Describe the inventory models of stochastics? What is the use of when?
- What is the ABC analyses! fundamental premise? What are the three measures involved in performing an ABC inventory analysis?explain what is ABC analysis fundamental premise what are the three factors that go into an ABC inventory analysis?Maroons Medical Supplies, Inc. must order masks from its supplier in lots of 1 dozen boxes. Given the information provided below, complete the following table: Annual demand 26,000 dozen Cost per order placed P30 Carrying cost 20% Price per dozen P7.80 Order Size (Dozen) 250 500 1,000 2,000 13,000 26,000 Number of orders Average inventory Carrying cost Order cost Total cost 1. What is the EOQ? Please include/fill the table and solve for EOQ. Thank you so much!
- A pharmacist is trying to determine the inventory order and stock levels for a particular drug. The following information is available about the drug. Demand (D) 85 tablets/week Working weeks per year 52 weeks Unit holding cost per year (H) $6 Order cost (S) $44/order Standard deviation of weekly demand (sd) 15 tablets Lead time (L) 2 weeks Desired cycle service level 95% If the pharmacist uses the continuous review (Q) system to control the inventory of the drug, what would be the order quantity and reorder point? If the pharmacist uses the periodic review (P) system to control the inventory of the drug, what would be the review interval and target inventory level? (Hint: Use the EOQ model to derive the review interval P)Give 3 examples of inventory risk.Company B is a retailer of mobile phones in Australia that works 250 days in a year. The manager is determining a minimum-cost inventory plan for an upcoming phone to be launched in the market. She has collected the following information: Annual demand: 1000 phones• Phone cost: $1,214 each• Phone RRP: $1,349 each• Net weight: 163 g each• Tare weight: 277 g each• Annual inventory holding cost: 15%• Cost per order to replenish inventory: $75• Annual in-transit holding cost: 10%• Freight rate: $8.10 per kg• Time to process order for freight: 1 days• Freight transit time: 3 days Solve this problem using a non-linear programming (NLP) model to determine the followings:a. Economic order quantity for the phone in units and in kgb. The total cost for purchasing the phonesc. The total cost for orderingd. The total cost for holding the inventorye. The total cost for transportationf. The total cost for holding the phones during transitg. The total cost for this inventory planh. The number of…