(a) Calculate the order quantity and reorder point. (b) Determine the annual holding and ordering costs respectively.

www.www A toy manufacturer uses approximately 40000 silicon chips annually. The chips are used at a steady rate during 350 working days per year. The annual holding cost is $4 per chip, ordering cost is $145, and lead time is 5 days. Determine the annual cost saving if company uses optimal EOQ (part a) instead of current order quantity of 3000 units (Round your answer to 1 decimal places)

What are the 3 major inventory management techniques? Select one company and make on that company data

Are inventory cost flow methods used the same for periodic and perpetual inventory systems? Explain.

The A&M Hobby Shop carries a line of radio-controlled model racing cars. Demand for the cars is assumed to be constant at a rate of 50 cars per month. The cars cost $70 each, and ordering costs are approximately $15 per order, regardless of the order size. The annual holding cost rate is 20%. (a) Determine the economic order quantity and total annual cost (in $) under the assumption that no backorders are permitted. (Round your answers to two decimal places) Q-3354 TC- $ 500 00 X (b) Using a $45 per unit per-year backorder cost, determine the minimum cost inventory policy and total annual cost (in $) for the model racing cars (Round your answers to two decimal places) Q-1024 x x TC-$400.93 (c) What is the maximum number of days a customer would have to wait for a backorder under the policy in part (b)? Assume that the Hobby Shop is open for business 300 days per year. (Round y to two decimal places) 5.12 x days (d) Would you recommend a no-backorder or a backorder inventory policy for…

I only need help with part E please....   The A&M Hobby Shop carries a line of radio-controlled model racing cars. Demand for the cars is assumed to be constant at a rate of 50 cars per month. The cars cost $80 each, and ordering costs are approximately $15 per order, regardless of the order size. The annual holding cost rate is 20%. (a) Determine the economic order quantity and total annual cost (in $) under the assumption that no backorders are permitted. (Round your answers to two decimal places.) Q*= TC=$   (b) Using a $45 per-unit per-year backorder cost, determine the minimum cost inventory policy and total annual cost (in $) for the model racing cars. (Round your answers to two decimal places.) Q*= TC=$   (c)What is the maximum number of days a customer would have to wait for a backorder under the policy in part (b)? Assume that the Hobby Shop is open for business 300 days per year. (Round your answer to two decimal places.)   days (d)Would you recommend a…

Demand is Normally distributed with mean of 14 per week and a weekly variance of 3. The ordering cost is $81.84. Lead time is 5 weeks. Shortages cost an estimated $1.12 per unit short to expedite orders to appease customers. The holding cost is $5.07 per week. Estimate the stockout risk if the target service level is 0.89. (Enter a number with two decimal places, e.g. 0.12)

The A&M Hobby Shop carries a line of radio-controlled model racing cars. Demand for the cars is assumed to be constant at a rate of 50 cars per month. The cars cost $70 each, and ordering costs are approximately $15 per order, regardless of the order size. The annual holding cost rate is 20%. (a) Determine the economic order quantity and total annual cost (in $) under the assumption that no backorders are permitted. (Round your answers to two decimal places.) X Q* TC = (b) Using a $45 per-unit per-year backorder cost, determine the minimum cost inventory policy and total annual cost (in $) for the model racing cars. (Round your answers to two decimal places.) Q* X TC = (c) What is the maximum number of days a customer would have to wait for a backorder under the policy in part (b)? Assume that the Hobby Shop is open for business 300 days per year. (Round your answer to two decimal places.) days (d) Would you recommend a no-backorder or a backorder inventory policy for this product?…

What is a the advantage of using the Fixed-Order-Quantity model in inventory management?

Which are the variety of information contained in the inventory records?