Wheel-Rite, a small producer of metal parts, supplies XYZ, a larger assembly company, with 10,000 wheel bearings each year. The setup cost for Wheel-Rite is $40 and the holding cost is $0.2 per wheel bearing per year. Wheel-Rite can produce 600 wheel bearings per day. XYZ requires that 50 bearings be shipped to it each business day. What is the maximum number of wheel bearings that will be in inventory at Wheel- Rite? Specify as a whole number by rounding the final result. (You will need to first compute the economic lot size, that is, the economic order quantity in the production setting. Use the correct formula for this situation)
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- The chapter presented various approaches for the control of inventory investment. Discuss three additional approaches not included that might involve supply chain managers.Joe Henry's machine shop uses 2,530 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the brackets: Annual demand 2,530 Holding cost per bracket per year $1.65 Order cost per order $18.25 Lead time 2 days Working days per year 250 Part 2 a) What is the EOQ? enter your response here units (round your response to two decimal places). Part 3 b) What is the average inventory if the EOQ is used? enter your response here units (round your response to two decimal places). What would be the annual inventory holding cost? $enter your response here (round your response to two decimal places). Part 4 c) Given the EOQ, how many orders will be made annually? enter your response here orders (round your response to two decimal places). What would be the annual order cost? $enter your response here (round…Peach Company uses 800 units of a product per year on a continuous basis. The product has a Fixed Cost of $50 per order, and its carrying cost is $2 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. Show Computations and Explanations. The EOQ = 200 Units The Average Level of Inventory = 121.92 Units The Reorder Point = 33 Units A. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Reorder Point (Format: Change or Do not Change) B. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Economic Order Quantity (Format: Change or Do not Change)
- Explain what are the advantages of vendor managed inventory ?Jasper sells 14,800 carvings a year. He has weekly demand of 285 carvings with a weekly standard deviation of 85. The cost for Jasper to place an order to his supplier is $31.00, and the time from ordering to receipt is ten weeks. The annual inventory carrying cost is $0.10 per carving. a. What is the reorder point necessary to provide a 90 percent service level over the lead time? Round the z score to 2 decimal places (e.g. z=0.58) and your final answer to the nearest whole number. Reorder point 3,194 b. Suppose Jasper reduces the safety stock of this item by 55 percent. What is the new service level? Round the z score to 2 decimal places (e.g., z=4.82) and round your answer to the nearest 1 percent (e.g., if the answer is 13.17%, enter 13.2, not .132 or 13.2%). Service level 71.9 %K Race One Motors is an Indonesian car manufacturer. At its largest manufacturing facility, in Jakarta, the company produces subcomponents at a rate of 290 per day, and it uses these subcomponents at a rate of 12,700 per year (of 250 working days). Holding costs are $2 per item per year, and ordering costs are $31 per order. a) What is the economic production quantity? 690.88 units (round your response to two decimal places). b) How many production runs per year will be made? 18.38 production runs (round your response to two decimal places). c) What will be the maximum inventory level? units (round your response to two decimal places).
- Per Norstrom supplies computer systems to a warehouse in Rotterdam. He sells 16 systems a week. The cost of an average system is € 5,000, while order administration costs and delivery from Malaysia cost € 1,000. The lead time is around 4 weeks and holding costs are around 16 per cent a year. What policy would you recommend for Per?One-Eyed Toad Pottery makes custom planters for up-scaleclients. The average demand for planters is 20 per week.One-Eyed Toad’s production facility has the capacity to make25 planters per week. Setup cost is $1500. The value of finishedgoods inventory is $250 per planter. The annual per-unitinventory holding cost is 35 percent of the item’s value.a. What is the economic production lot size (ELS)?b. What is the average time between orders (TBO)?c. What is the total of the annual holding cost and setupcost?Sam's Pet Hotel operates 52 weeks per year, 6 days per week, and uses a continuous review inventory system. It purchases kitty litter for $13.00 per bag. The following information is available about these bags: ≻Demand=75 bags/week ≻Order cost=$55.00/order ≻Annual holding cost=25 percent of cost ≻Desired cycle-service level=80 percent ≻Lead time=4 weeks (24 working days) ≻Standard deviation of weekly demand=15 bags ≻Current on-hand inventory is 320 bags, with no open orders or backorders. Part 2 a. Suppose that the weekly demand forecast of 75 bags is incorrect and actual demand averages only 50 bags per week. How much higher will total costs be, owing to the distorted EOQ caused by this forecast error? The costs will be $enter your response here higher owing to the error in EOQ. (Enter your response rounded to two decimal places.) a. What is the EOQ? What would the average time between orders (in weeks)? b. What should R be? c. An inventory withdraw…
- Matthew Liotine's Dream Store sells water beds and assorted supplies. His best-selling bed has an annual demand of 390 units. Ordering cost is $36 holding cost is $5 per unit per year. a) To minimize the total cost, how many units should be ordered each time an order is placed? EOQ= ____round to nearest whole number b) if the holding cost per unit was $6.00 instead of $5, what would the optimal order quantity be? EOQ = ____round to nearest whole numberA toy manufacturer uses approximately 32,000 silicon chips annually. The chips are used at a steady rate during the 240 days a year that the plant operates. Annual holding cost is $3 per chip, and ordering cost is $120. Determine the following: What is the reorder point, if the lead time is 7 days?Coffee Company uses 800 units of a product per year on a continuous basis. The product has a Fixed Cost of $50 per order, and its carrying cost is $2 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. Show Computations and Explanations. The EOQ = 200 Units The Average Level of Inventory = 92 Units The Reorder Point = 33 Units A. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Ordering Cost (Format: Change or Do not Change) B. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Carrying Cost (Format: Change or Do not Change) C. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Total Inventory Cost (Format: Change or Do not Change)