First Printing has contracts with legal firms in San Francisco to copy their court documents. Daily demand is almost constant at 11,200 pagesof documents. The lead time for paper delivery is normally distributed with a mean of 4 days and a standard deviation of 1 day. A 96% servicelevel is expected. Compute First's ROP. Refer to the standard normal table for z-values.The reorder point is documents (round your response to the nearest whole number).

Efficient stock control means that there is stock for sale when customers demand it. Such enables…

Answered: First Printing has contracts with legal…

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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Chicago's Hard Rock Hotel distributes a mean of 900 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 100 towels per day, based on occupancy. The laundry firm that has the linen contract requires a 2-day lead time. The hotel expects a 95% service level to satisfy high guest expectations. Refer to the standard normal table for z-values. a) What is the reorder point? b) What is the safety stock? towels (round your response to the nearest whole number). towels (round your response to the nearest whole number). Z 0.38 0.50 0.67 0.84 1.04 1.28 1.41 1.56 1.65 1.75 2.06 2.33 Pr(Z) 65 69 75 80 85 90 92 94 95 96 98 99
Sunrise Garden Center buys 425 bags of fertilizer per month for feeding and weeding lawns. The ordering cost is $15.00. Holding cost is $0.10 per bag per year. a. How many bags should Sunrise order at a time? Sunrise should order bags at a time. (Enter your response rounded to the nearest whole number.) b. What is the time between orders? The time between orders is months. (Enter your response rounded to one decimal place.)
Jim's Job Shop buys two parts (Tegdiws and Widgets) for use in its production system from two different suppliers. The parts are needed throughout the entire 52-week year. Tegdiws are used at a relatively constant rate and are ordered whenever the remaining quantity drops to the reorder level. Widgets are ordered from a supplier who stops by every three weeks. Data for both products are as follows: a. What is the inventory control system for Tegdiws? Reorder quantity = 1,225 Reorder point = 824.24 b. Find the total inventory costs if using inventory policy. This is a case considering safety stock (Do not use Excel, show your work) Holding cost per unit per year is given as a percentage of item cost ITEM TEGDIW WIDGET Annual Demand 10,000 5,000 Holding cost (% of item cost) 20% 20% Set up or order cost $150.00 $25.00 Lead Time 4 weeks 1 week Safety stock 55 units 5 units Item cost $10.00 $2.00
First Printing has contracts with legal firms in San Francisco to copy their court documents. Daily demand is almost constant at 11,100 pages of documents. The lead time for paper delivery is normally distributed with a mean of 1 day and a standard deviation of 1 day. A 95% service level is expected. Compute First's ROP. Refer to the standard normal table for z-values. The reorder point is documents (round your response to the nearest whole number). Z-Table Z 0.38 0.50 0.67 0.84 1.04 1.28 1.41 1.56 1.65 1.75 1.88 2.06 2.33 Print Pr(Z) 65 69 75 80 85 90 92 94 95 96 97 98 99 Done - X
Please do not give solution in image format thanku
EOQ, reorder point, and safety stock Alexis Company uses 916 units of a product per year on a continuous basis. The product has a fixed cost of $60 per order, and its carrying cost is $3 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days' usage in inventory as a safety stock. a. Calculate the EOQ. b. Determine the average level of inventory. (Note: Use a 365-day year to calculate daily usage.) c. Determine the reorder point. d. Indicate which of the following variables change if the firm does not hold the safety stock: (1) order cost, (2) carrying cost, (3) total inventory cost, (4) reorder point, (5) economic order quantity. a. Alexis' EOQ is units. (Round to the nearest whole number.)
Consider a continuous review inventory system. Demand is normally distributed with an average of 28,000 per month and a monthly standard deviation of 4900 units. Lead time is 3 weeks (assume four weeks per month) (round Z-values, standard deviations to two decimal places). If the firm desires a(n) 90% cycle service level, it should hold enter your response here units of safety stock (round your response to the nearest integer).
Please do not give solution in image format thanku Demand for Bartley's Baseball Gloves is 50 gloves per day, with a standard deviation of 5 gloves per day. It takes 12 days lead time to restock. Bartley wants to maintain a 93.7% level of service. How much safety stock does he need to carry? Hang on to 3 places beyond the decimal, properly rounded. Note that this question asks for SAFETY STOCK, not Reorder Point.
I need answers A company uses on an average 216 parts a day with a standard deviation of 16 parts per day in a manufacturing process. Cost of placing and receiving an ordering is BDT 40,000. Estimated monthly carrying cost is BDT 90 per part. Orders are delivered approximately 7 days after being placed. The delivery time is normal with a mean of 7 days and a standard deviation of 2 days. The company is open 360 days per year. Find the order quantity that is economical. If the Company takes 3% stock out risk, then find safety stock (SS) quantity and Re-Order Point? 3.If the supplier offers a discount of BDT 8 per circuit board for purchasing of 4000 boards at a time, then financially evaluate and justify whether the company will go with the offer or not? 4.The person who orders the boards follows this rule: Order when the amount on…
The production order quantity for this problem is approximately 332 units. daily demand rate = 64; daily production rate = 100. What is the average inventory on - hand ( in other words - the inventory for which you are paying Holding Costs ) In this problem ?
NEED ALL THREE QUESTIONS Item X is a standard item stocked in a company's inventory of component parts. Each year the firm, on a random basis, uses about 2,700 of item X, which costs $25 each. Storage costs, which include insurance and cost of capital, amount to $9 per unit of average inventory. Every time an order is placed for more item X, it costs $6. a. Whenever item X is ordered, what should the order size be? (Round your answer to the nearest whole number.) b. What is the annual cost for ordering item X? (Round your answer to 2 decimal places.) c. What is the annual cost for storing item X? (Round your answer to 2 decimal places.)
For many firms, inventory usage is not uniformthroughout the year but instead follows some seasonal pattern. Can the EOQ model be used in thissituation? If so, how?

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