Using auction award optimization problem ,create and solve a small numerical example by considering atleast 3 supplier and each supplier supplying at least 2 items
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Using auction award optimization problem ,create and solve a small numerical example by considering atleast 3 supplier and each supplier supplying at least 2 items
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- Retailers Warehouse (RW) is an independent supplier of household items todepartment stores. RW attempts to stock enough items for a 98 percent serviceprobability.A stainless steel knife set is one item it stocks. Demand (2,400 sets peryear) is relatively stable over the entire year. Whenever new stock isordered, a buyer must assure that numbers are correct for stock on handand then phone in a new order. The total cost involved to place an order isabout $5. RW figures that holding inventory in stock and paying forinterest on borrowed capital, insurance, and so on adds up to about $4holding cost per unit per year.Analysis of the past data shows that the standard deviation of demandfrom retailers is about four units per day for a 365-day year. Lead time toget the order is seven days.a. What is the economic order quantity?b. What is the reorder point?N3 Products and services offered by Affin bank (local bank) and Standard Chartered Bank (international bank)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.)
- The following lots of a particular commodity were available for sale during the year Beginning inventory 7 units at $49.00 First purchase 18 units at $54.00 Second purchase 25 units at $59.00 Third purchase 14 units at $59.00 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer. $1,127.00 $1,357.00 $3,616.00 $3,593.00In the retail coffee industry, with many mom-and-pop coffee stores and retail coffee shows, the number of competitors in the industry is high. In such a case, most coffee houses use beans and other ingredients to create different blends of coffee. Many suppliers provide the beans required by these firms. Moreover, there is not a significant difference in the quality of the product from different suppliers. In addition, with many suppliers offering similar commodity-type products, the switching costs for the focal firms would below. Referring to the second part of the above scenario, all of the mentioned factors combined will result in ____________. * high threat of new entrants to the industry high bargaining power of the suppliers low threat of new entrants to the industry low bargaining power of the suppliersProblem 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.) Probability
- Refer to the slides on buy-back contracts to answer this question. A publisher sells books to Borders at $12 each. The marginal production cost for the publisher is $1 per book. Borders prices the book to its customers at $24 and expects demand over the next two months to be normally distributed, with a mean of $20,000 and a standard deviation of $5000. Borders places a single order with the publisher for delivery at the beginning of the two-month period. Currently, Borders discounts any unsold books at the end of the two months down to $3, and any books that did not sell at full price sell at this price. How many books should Borders order? What is the expected profit? How many books does it expect to sell at a discount? What is the profit that the publisher makes given Borders’ actions? A plan under discussion is for the publisher to refund Borders $5 per book that does not sell during the two-month period. As before, Borders will discount them to $3 and sell any that remain.…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 $0.45 a copy. You sell a copy of San Pedro Times for $1.40. Daily demand is distributed normally with mean = 340 and standard deviation = 68. 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.) 8 Answer is complete but not entirely correct. Optimal order quantity 0.05 b. Based on a, what is the probability that you will run out of stock? (Round your answer to the nearest whole number.) * Answer is complete but not entirely correct. Probability 3 X %Describe the quantity discount model and demonstrate how to utilise it ?
- Answer bold italicized questions Using excel. The Metropolitan Bus Company (MBC) purchases diesel fuel from AmericanPetroleum Supply. In addition to the fuel cost, American PetroleumSupply charges MBC $250 per order to cover the expenses of deliveringand transferring the fuel to MBC’s storage tanks. The lead time for anew shipment from American Petroleum is 10 days; the cost of holding agallon of fuel in the storage tanks is $0.04 per month, or $0.48 peryear; and annual fuel usage is 150,000 gallons. MBC buses operate 300days a year.a.What is the optimal order quantity for MBC?b.Howfrequently should MBC order to replenish the gasoline supply?c.TheMBC storage tanks have a capacity of 15,000 gallons. ShouldMBC consider expanding the capacity of its storage tanks?d.What isthe reorder point?Retailers Warehouse (RW) is an independent supplier of household items to department stores. RW attempts to stock enough items for a 98 percent service probability. A stainless steel knife set is one item it stocks. Demand (2,400 sets per year) is relatively stable over the entire year. Whenever new stock is ordered, a buyer must ensure that numbers are correct for stock on-hand and then phone in a new order. The total cost involved to place an order is about $5. RW figures that holding inventory in stock and paying for interest on borrowed capital, insurance, and so on, add up to about $4 holding cost per unit per year. Analysis of the past data shows that the standard deviation of demand from retailers is about four units per day for a 365-day year. Lead time to get the order is seven days. What is the economic order quantity? Note: Round your answer to the nearest whole number. What is the reorder point? Note: Use Excel's NORM.S.INV() function to find the z value. Round z…Analyse eMMC ' s price and storage capacity with its benefits