A company manufactures two products, A and B. The unit revenues are d $3, respectively. Two raw materials, M1 and M2, used in the facture of the two products have daily availabilities of 8 and 18 units, ctively. One unit of A uses 3 units of M1 and 2 units of M2, and 1 unit of s 2 units of M1 and 6 units of M2. a. Determine the dual prices of M1 and M2 and their feasibility ranges.
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- Q: A hardware company stocks nuts and bolts and orders them from a local supplier once every 2 weeks (10 working days). Lead time is 2 days. The company has determined that the average demand for 1⁄2 inch bolts is 150 per week (5 working days), and it wants to keep a safety stock of 3 days’ supply on hand. An order is to be placed this week, and the stock on hand is 130 bolts.a. What is the target level?b. How many 1⁄2 inch bolts should be ordered this time?The GIIC -Company must determine a policy for ordering coal to operate 15 smelters. Each smelter requires exactly 5 tons of coal per day to operate, and the firm operates 360 days per year. The purchasing manager has negotiated a contract to obtain the coal for 5 BD per ton for the coming year. The purchasing manager has determined that the ordering cost is 40 BD per order, and the cost of holding coal is 20% per ton of its value. i. Determine the optimal quantity of coal to receive in each order. ii. Determine the total inventory-related costs associated with the optimal ordering policy (do not include the cost ii. If five days' lead time is required to receive an order of coal, how much coal should be on hand when an iv. Optimal quantity 1837.11 Tons, Total cost 1837.11 BD, Inventory during LT 275 Tons of the coal). order is placed? i. Optimal quantity 1469.694 Tons, Total cost 1469.694 BD, Inventory during LT 375 Tons ii. Optimal quantity 734.85 Tons, Total cost 1649.694 BD,…2. The idea of assigning numerical values to determine a preference ordering over a set of ob- jects is not limited in application to commodity bundles. The Bill James Baseball Abstract argues that a baseball player's batting average is not an adequate measure of his offensive productivity. Batting averages treat singles just the same as extra base hits. Furthermore they do not give credit for "walks," although a walk is almost as good as a single. James argues that a double in two at-bats is better than a single, but not as good as two singles. To reflect these considerations, James proposes the following index, which he calls "runs created." Let A be the number of hits plus the number of walks that a batter gets in a season. Let B be the number of total bases that the batter gets in the season. (Thus, if a batter has S singles, W walks, D doubles, T triples, and H home runs, then A= S + D + T + H+W and B = S +W +2D +3T +4H.) Let N be the number of times the batter bats. Then his…
- Problem 20-10 (Algo) You are a newsvendor selling San Pedro Times every morning. Before you get to work, you go to the printer and buy the day's paper for $0.30 a copy. You sell a copy of San Pedro Times for $1.10. Daily demand is distributed normally with mean = 265 and standard deviation = 53. At the end of each morning, any leftover copies are worthless and they go to a recycle bin. a. How many copies of San Pedro Times should you buy each morning? (Use Excel's NORMSINV() function to find the correct critical value for the given a-level. Round your z-value to 2 decimal places and final answer to to 2 decimal places.) Optimal order quantity b. Based on a, what is the probability that you will run out of stock? (Round your answer to the nearest whole number.) Probability2. A manager then obtained 10 lists of items with their following unit cost and gets the peso value in annual basis. By doing the A-B approach you will need to multiply the annual demand for t particular items to its unit costs as follows: Item Number Annual Demand Unit Cost Annual Peso Value 1 3,500 360 2 2,000 70 3 5,400 500 4 2,500 100 5 1,200 70 6 2,000 1,000 7 1,200 210 8 2,000 4,000 9 10,000 10 10 1,500 200 Item Number Annual Peso Classification % of item Value 2/3 % of annual Peso Value16. A company will begin stocking remote control devices. Expected monthly demand is 800 units. The controllers can be purchased from either supplier A or supplier B. Their price lists are as follows: SUPPLIER A Quantity 1-199 200-499 500 + Unit Price $14.00 13.80 13.60 SUPPLIER B Quantity 1-149 150-349 350 + Unit Price $14.10 13.90 13.70 Ordering cost is $40 and annual holding cost is 25 percent of unit price per unit. Which supplier should be used and what order quantity is optimal if the intent is to minimize total annual costs?
- 2.A company wants to manufacture a mixtur A,B and C. The cost of A ,B and C are 5, 4 a 3 riyals respectively. The company prepares the mixture to meet out the demand of the customers in the following manner. ontaining three contents the quantity of A can't be more than 200K (i) The quantity of B used should be at least 300K9 (iii) The quantity of C can't be more than 400 Kg. Find the optimum combination of the three contents for a mixture of 1000Kgs so that the total cost is minimum.Formulate the L.P.P.( Only the L.P.P formula is required. No need to solve L.P.P)Problem 20-10 (Algo) You are a newsvendor selling San Pedro Times every morning. Before you get to work, you go to the printer and buy the day’s paper for $0.50 a copy. You sell a copy of San Pedro Times for $1.25. Daily demand is distributed normally with mean = 335 and standard deviation = 67. At the end of each morning, any leftover copies are worthless and they go to a recycle bin. a. How many copies of San Pedro Times should you buy each morning? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Round your z-value to 2 decimal places and final answer to to 2 decimal places.) b. Based on a, what is the probability that you will run out of stock? (Round your answer to the nearest whole number.)Your Corporation manufactures four products that use the same raw material and production machine. Your Company is experiencing a shortage of pounds of the raw material. Information related to the four products are shown below. Products A B C D Selling price $40 $32 $35 $65 Variable cots $34 $22 $27 50 Machine hours per unit 6 8 5 7 Pounds per unit 18 20 28 38 To maximize profit next month, in what order would it be best to schedule production (first to last)? a. A, B, C, D b. A, D, B, C c. B, D, A, C d. D, A, C, B
- Consider the supply : Last year, the retailer’s weekly variance of demand was 200 units.The variance of orders was 500, 600, 750, and 1,350 units for theretailer, wholesaler, distributor, and manufacturer, respectively.(Note that the variance of orders equals the variance of demandfor that firm’s supplier.)a) Calculate the bullwhip measure for the retailer.b) Calculate the bullwhip measure for the wholesaler.c) Calculate the bullwhip measure for the distributor.d) Calculate the bullwhip measure for the manufacturer. e) Which firm appears to be contributing the most to the bull-whip effect in this supply chain?41. A manufacturer of greeting cards must determine the size of production runs for a cer- tain popular line of cards. The demand for these cards has been a fairly steady 2 mil- lion per year, and the manufacturer is currently producing the cards in batch sizes of 50,000. The cost of setting up for each production run is $400. Assume that for each card the material cost is 35 cents, the labor cost is 15 cents, and the distribution cost is 5 cents. The accounting department of the firm has established an interest rate to represent the opportunity cost of alternative investment and storage costs at 20 percent of the value of each card. a. What is the optimal value of the EOQ for this line of greeting cards? b. Determine the additional annual cost resulting from using the wrong production lot size.Mr. Meadows Cookie Company makes a variety of chocolate chip cookies inthe plant in Albion, Michigan. Based on orders received and forecasts of buying habits, it is estimated that the demand for the next four months is 850, 1,260, 510, and 980, expressed in thousands of cookies. During a 46-dayperiod when there were 120 workers, the company produced 1.7 million cookies. Assume that the number of workdays over the four months are respectively26, 24, 20, and 16. There are currently 100 workers employed, and there is nostarting inventory of cookies.a. What is the minimum constant workforce required to meet demand over thenext four months?b. Assume that cI 5 10 cents per cookie per month, cH 5 $100, and cF 5 $200.Evaluate the cost of the plan derived in part (a).c. Formulate as a linear program. Be sure to define all variables and include therequired constraints.d. Solve for the optimal solution