19. At which point, the storekeeper should initiate the purchase requisition for fresh supplies of the material? a. Reorder level b. Maximum level c. Minimum level d. Danger level
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A: THE ANSWER IS AS BELOW:
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Q: 25-Which among the following is an inventory?
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- Micro-Electronics Warehouse Headset and Webcam Sale Item Type Reg. Price After Savings Price BuddyChat 200 Headset $34.72 $24.40 BuddyChat 300 Headset $41.27 $34.91 BuddyCam HD Webcam $83.54 $61.46 You have decided to purchase the headset with the greatest markdown percent and the BuddyCam HD webcam in order to take advantage of an "Extra $15 Rebate" offer when you purchase both. What is the markdown percent on your total purchase including the rebate?Fisk Corporation is trying to improve its inventory control system and has installed an online computer at its retail stores. Fisk anticipates sales of 112, 500 units per year, an ordering cost of $3 per order, and carrying costs of $1.20 per unit. a. What is the economic ordering quantity? b. How many orders will be placed during the year? c. What will the average inventory be? d. What is the total cost of ordering and carrying inventory?Peter Sagan is in charge of maintaining hospital supplies at Champs Hospital. During the past year the mean weekly demand for a special type of tubing was 186 packages of this tubing with a standard deviation of 13 packages of tubing. The lead time for receiving this tubing from the supplier is 1.5 weeks. Peter would like to maintain a 95% service level and places an order for 750 packages every time an order is placed. d) If the weekly demand is 186 and there is a 1.5 week lead time - what is the reorder point (99% service level)? e) If the carrying cost per year is $0.50/unit/year - what is the additional cost associate with the 99% service level compared to 95% service level (i.e. cost of safety stock at 99% level - cost of safety stock at 95% service level)? solve on excel
- 14. 12 The purchasing manager for the Atlantic Steel Company must determine a policy for ordering coal to operate 12 converters. Each converter requires exactly 5 tons of coal per day to operate, and the firm operates 360 days per year. The purchasing manager has determined that the ordering cost is $80 per order and the cost of holding coal is 20% of the average dollar value of inventory held. The purchasing manager has negotiated a contract to obtain the coal for $12 per ton for the coming year. a. Determine the optimal quantity of coal to receive in each order. (Ans: 1200 tons) b. Determine the total inventory-related costs associated with the optimal ordering policy (do not include the cost of the coal). (Ans: TC= $2880) c. If 5 days of lead time are required to receive an order of coal, how much coal should be on hand when an order is placed? (Ans= R=300 tons)Peter Sagan is in charge of maintaining hospital supplies at Champs Hospital. During the past year the mean weekly demand for a special type of tubing was 186 packages of this tubing with a standard deviation of 13 packages of tubing. The lead time for receiving this tubing from the supplier is 1.5 weeks. Peter would like to maintain a 95% service level and places an order for 750 packages every time an order is placed. d) If the weekly demand is 186 and there is a 1.5 week lead time - what is the reorder point (99% service level)? e) If the carrying cost per year is $0.50/unit/year - what is the additional cost associate with the 99% service level compared to 95% service level (i.e. cost of safety stock at 99% level - cost of safety stock at 95% service level)?That One Book sells its books through The Witch and the Wardrobe bookstores. It costs That One Book $0.80 to print each book; it sells the book to The Witch and the Wardrobe for $2.50. The Witch and the Wardrobe then sells the books at retail for $6.00. Whatever doesn’t sell gets thrown away. Demand for the book each issue is normal with a mean of 5219 and a standard deviation of 1610. To give The Witch and the Wardrobe incentive to order more books, it proposes a revenue-sharing contract. Instead of selling the book to The Witch and the Wardrobe for $2.50, That One Book will sell its books to The Witch and the Wardrobe for only $1.00. However, for each book that The Witch and the Wardrobe sells at retail, The Witch and the Wardrobe must give $2.00 back to That One Book. With this revenue sharing agreement in place, what is the optimal order amount that will maximize The Witch and the Wardrobe expected profit? Please do fast ASAP
- During the last 5 weeks, demands for a certain SKU at a retailer were 7 units (5 weeks ago), 4 units, 4 units, 4 units, and 5 units (last week). The retailer uses a period review model with order-up-to level 71 units, a review period of 2 weeks, and the lead time is 11 weeks. It is time to order. How much should the retailer order?weekly demand for hamleys (a famous toy brand) at a toy store is normally disrtibuted with a mean of 250 and a standrd devaiton of 150.Ther toy store is opened 7 days a week.The toy store owner continoulsy monitors the inventory .Hamleys takes 2 weeks to fill an order with a standard devaiton of 4 days. 1] how much inventory should the sotre carry at the reorder point. 2] how much inventory would that be at the reorder point if the cycle service was increased to 98%?SAFETY STOCK WITH PROBABILISTIC DEMAND Memphis Regional Hospital stocks a “code blue” resuscitation kit that has a normally distributeddemand during the reorder period. The mean (average) demand during the reorder period is 350 kits,and the standard deviation is 10 kits. The hospital administrator wants to follow a policy that results instockouts only 5% of the time.(a) What is the appropriate value of Z ? (b) How much safety stock should the hospital maintain?(c) What reorder point should be used?APPROACH c The hospital determines how much inventory is needed to meet the demand 95% of thetime. The figure in this example may help you visualize the approach. The data are as follows:m = Mean demand = 350 kitssdLT = Standard deviation of demand during lead time = 10 kitsZ = Number of standard normal deviations
- In a two-bin inventory system, the demand for three-inch lag bolts during the 2-week lead time is normally distributed, with an average of 53 units per week. The standard deviation of weekly demand is 5 units. a. What is the probability of demand exceeding the reorder point when the normal level in the second bin is set at 130 units? b. What is the probability of demand exceeding the 130 units in the second bin if it takes 3 weeks to receive a replenishment order?Fisk Corporation is trying to improve its inventory control system and has installed an online system at its retail stores. Fisk anticipates sales of 58,800 units per year, an ordering cost of $4 per order, and carrying costs of $1.50 per unit. In the second year, Fisk Corporation finds that it can reduce ordering costs to $1 per order, but carrying costs will stay the same at $1.50 per unit. a-1. What is the economic ordering quantity for the second year? Economic ordering quantity (EOQ) a-2. How many orders will be placed during the second year? Number of orders a-3. What will the average inventory be for the second year? Average inventory Total costs units units a-4. What is the total cost of ordering and carrying inventory for second year? LAAt Matthews Car Repair, customer demand for a certain brand of motor oil is normally distributed with a mean of 15 gallons and a standard deviation of 6 work-days. To be 95% sure that Compact Car Repair will not run out of oil, we should reorder when motor oil in stock is less than _______ gallons. a. 24.9 b. 22.6 c. 23.7 d. 20