Q4: Suppose that the demand for a product is 400 per year, and the items are withdrawn uniformly. The order cost is $25 and the inventory holding cost is $0.5 per item per year. If shortages cost $1 per item per year, find: 1. The economic order quantity. 2.Maximum inventory. 3.Shortage allowable quantity.
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- Q4/ Company produced 1000 pieces of air conditioners per year, the order cost is 6000$, the shortage cost is 10% of order cost and the inventory holding cost is one dollars per item per year. Find 1. number of ordering during the year. 2. The interval between two orders. 3. The annual cost. 4. maximum inventory 5. shortage allowable quantityQ1/ Company produced 700 pieces of ceiling fius per year, the order cost is 1400S, the shortage cost is 15% of order cost and the inventory holding cost is two dollars per item per year. Find 1. Shortage allowable quantity. 2. to. 3. Number of ordering during the year.Q2. An Electrical and Electronics parts manufacturer purchases circuit board for manufacturing electronic circuit board at the rate of OMR 40 per piece from a vendor. The requirements of these parts are 2000 per half yearly and the cost per placement of an order is OMR 40 and inventory carrying charges 20 percent yearly. Calculate the following 1)The EOQ 2)No. of orders in a year, and 3)Time between two successive orders 4)Average yearly cost of Inventory 5)Total inventory cost 6)Total Cost
- ECUR UMIC ORDER QUANTITY CALCULATIONS (2 QUESTIONS) Company uses 800 units of a product per year on a continuous basis. The product year and order costs of $300 per order. It takes 30 days to receive a shipment after an order is placed and the a safety stock of 5 days usage in inventory. has carrying costs of $50 A. Calculate the economic order quantity a. 98 B. Determine the reorder a. 150 days (3 CASH DISCOUNTS point. ONS) (Assume (EOQ). a 360-day year.) per unit per firm requiresGiven this information:Lead-time demand 600 poundsStandard deviation of lead time demand 52 pounds (Assume normality.)Acceptable stockout risk during lead time 4 percenta. What amount of safety stock is appropriate?b. When should this item be reordered?c. What risk of stockout would result from a decision not to have any safety stock?3. Fortnex is a company that assembles small household appliances including coffee makers, toasters, and food mixers. The parent company of Fortnex has been concerned about the rising product cost of the finished products, which has led to reduced profit margins. One of the demands of the parent company has been to review the inventory management practices of Fortnex. Two areas which Fortnex is currently investigating are economic order quantity EOQ and ABC analysis. Perform the following. (i) At present the company purchases copper wire for a certain appliance under economic order quantities based on the information given in Table 3-1. The supplier of copper wire is proposing a discount of 5% of unit price if Fortnex purchases in lot sizes of 1000 kg. rather than the calculated EOQ. Determine if Fortnex should take advantage of the price discount. Justify your response. For a particular series of referenced products, the number of units used a year, and the unit cost are as shown in…
- DETERMINING INVENTORY MODELS FSYHILD is a manufacturing company of made to order face shield. It is producing products at a constant rate with a requirement of 5,500 face shields per quarter throughout the year. If ordering costs are P35.00 per order, unit cost is P10.00 per face shield, and annual inventory holding cost are charged at 30% of the units cost. A. What is the EOQ for this component? B. What is the expected time between orders? C. What are the total annual inventory and holding cost associated with your EOQ recommendation? D. Assuming a lead time of 5 days, what is the reorder point? E. What is the total cost if the management decides to increase the demand by 75%?Q2) Clancy's Motors has the following demand to meet for custom manufactured fuel injector parts. The holding cost for that item is $2 per month and each setup costs $80. Lead time is 0 months. Calculate the planned order releases using: (a) the EOQ technique, and (b) the POQ technique. And What are the costs of each plan, including the holding cost of any inventory left over after month 7? What technique performance is better. Month 1 2 3 4 5 6 7 Requirement 400 150 200 150 100 150 250 Answer: (a) The monthly holding cost = $2/month Average monthly demand = ??? units The EOQ = ??? units Total inventory held = ??? units Setup costs = $??? Holding cost = $???? Total cost = $???? (b) POQ Interval = ?.??, round to # month. Total inventory held = ? units Setup costs = $??? Holding cost = $? Total cost = $???Suzuki is a company that manufactures motorcycles. It produces 450 motorcycles a month. It buys tyres for motorcycles from Dunlop at a cost of $20 per tyre. The company’s inventory carrying cost per tyre is estimated to be 15% of the cost per tyre. The cost per order is calculated at 250% of the cost per tyre. Rquirement: i) Calculate the EOQ. ii) Determine the number of orders per year? iii) Compute the total cost.
- UNCERTAIN DEMAND Lead time demand for an item averages 100 units, with a standard deviation of 30. The order quantity is 200 units. Management desires that 99 percent of all demand be met from stock. a) What is the optimal order point? b) Suppose management wanted a 98 percent service level; what would be optimal order point be c)Suppose management wanted 90 service level. Compute the optimal order point03) Halifax Souvenir Company currently orders 500 units four times each year. Each order costs $12 and each unit costs $1.20 per year to carry. On average, it takes 5 days to receive an order from the supplier. The company operates 250 days per year. Required: 1. What is the EOQ? 2. Calculate total annual inventory cost under EOQ. 3. What is the current inventory cost? 4. What is the re-order point?• The weekly demand for a product is 770 units. The standard deviation of daily demand is 10 units. The firm reviews its inventory every 28 days. Each order for the product arrives 9 days after placement. At the time of review, there are 10 units backorder. If 95 percent of all demand is to be satisfied from items in stock: a) How many units should be the safety stock? b) What's the product's inventory status? c) How many units should be ordered for this period?