A firm uses a fixed time period model to manage a type of bolts they keep in inventory. The average daily demand for the bolts is 48 with a standard deviation of 3. An order is placed every 28 days and is received 3 days later. They use a 99 percent service level and currently have 78 on hand. How many should they order? Round your answer to a whole number.
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- A restaurant uses 100 per week or 5,000 quart bottles of ketchup each year. The ketchup costs $3.00 per bottle and is served only in whole bottles because its taste quickly deteriorates. The restaurant figures that it costs $10.00 each time an order is placed, and holding costs are 20 percent of the purchase price. It takes 3 weeks for an order to arrive. The restaurant operates 50 weeks per year. The restaurant would like to use an inventory system that minimizes inventory cost. The restaurant has figured that the most economical order size or EOQ is approx. 409 (rounding up the decimals). Approximately, what is the time between two orders (in terms of weeks) 08 06 04 02 None of the aboveA bakery buys sugar in 15-pound bags. The bakery uses 5000 bags of sugar each year. Carrying costs are $20 per bag per year. Ordering costs are estimated at $5 per order. Assume that the bakery is open 250 days a year and its daily demand is estimated at 20 bags. It takes 5 days for each order of sugar to be filled. Refer to the information above. What is the optimal number of orders per year? a. 200b. 500c. 300d. 400e. 100At sejahtera.com, a large retailer of popular books, demand is constant at 32,000 books per year. The cost of placing an order to replenish stock is $10, and the annual cost of holding is $4 per book. Stock is received five working days after an order has been placed. The backordering is not allowed. Assume 300 working days a year. Please Draw the model to represent the case.
- A liquor warehouse expects to sell 10,000 bottles of scotch whiskey in a year. Each bottle costs $16, plus a fixed charge of $112 per order. If it costs $14 to store a bottle for a year, how many bottles should be ordered at a time and how many orders should the warehouse place in a year to minimize inventory costs? find bottles per order........ orders per year.......Brenda opened a pool and spa store in a lively shopping mall and finds business to be booming but she often stocks out of key items customers want. The 28-ounce bottle of Super Algaecide (SA) is a high margin SKU, but it stocks out frequently. Ten SA bottles come in each box, and she orders boxes from a vendor 160 miles away. Brenda is busy running the store and seldom has time to review store inventory status and order the right quantity at the right time. She collected the following data: Demand = 10 boxes per week Store open = 48 weeks/year Order cost = $36/order Lead-time = 5 weeks Item cost = $72/box Std. deviation in weekly demand = 6 Inventory-holding cost = 25 percent per year Service level = 90 percent Brenda wants to consider setting up a fixed-period inventory system for the 28-ounce bottle of Super Algaecide (SA) SKU. At the beginning of the current week, D. J. Kole, the materials manager, checked the inventory level and found 80 units on-hand. There were no…Brenda opened a pool and spa store in a lively shopping mall and finds business to be booming but she often stocks out of key items customers want. The 28-ounce bottle of Super Algaecide (SA) is a high margin SKU, but it stocks out frequently. Ten SA bottles come in each box, and she orders boxes from a vendor 160 miles away. Brenda is busy running the store and seldom has time to review store inventory status and order the right quantity at the right time. She collected the following data: Demand = 10 boxes per weekStore open 48 weeks/yearOrder cost = $40/orderLead-time = 4 weeksItem cost = $80/boxStd. deviation in weekly demand = 6Inventory holding cost = 15% per yearService level = 90% Brenda wants to consider setting up a fixed-period inventory system for the 28-ounce bottle of Super Algaecide (SA) SKU. At the beginning of the current week, D. J. Kole, the materials manager, checked the inventory level and found 55 units on-hand. There were no scheduled receipts, and 25 units…
- A company has the demand of 1800 units per year (demand rate is constant), holding costs of $13 per unit and setup costs (ordering cost) of $27 per order. The order lead time is 1 days, and the company operates 245 days every year. To avoid a stockout, they need to place an order at least ______ days before the inventory runs out.The basic EOQ model is based on all the following assumptions except: A. Annual demand is known and constant.B. The item is always available when needed.C. Estimates of ordering and carrying costs are accurate.D. Order is instantaneously received exactly when previous inventory has just been used up.The basic EOQ model is based on all the following assumptions except: * A. Annual demand is known and constant.B. The item is always available when needed.C.Estimates of ordering and carrying costs are accurate.D.Order is instantaneously received exactly when previous inventory has just been used up.
- At Dot Com, a large retailer of popular books, demand is constant at 20,400 books per year. The cost of placing an order to replenish stock is $75, and the annual cost of holding is $6.00 per book. Stock is received 6 working days after an order has been placed. No backorder is allowed. Assume 250 working days a year. **(Enter your response rounded to the nearest whole number.)** Dot Com's optimal order quantity is ______ books. What is the optimal number of orders per year? What is the optimal enterable quotation in working days quotation between orders? What is the demand during the lead time? What is the reorder Point? What is the inventory position immediately after an order has been placed?World’s Greatest Coffee EOQ Problem A natural food store carries a brand of coffee called World’s Greatest Coffee. The following data shouldbe used in your calculations.Demand/Sales = 10 cases of coffee per week (you will need to convert this to an annual amount)Ordering Cost = $12 per orderCarrying Charge = 18% per yearUnit Cost = $75 per case Answer the following questions and be sure to show your computations. You can use whatever symbolyou need for square root, if typing in Word.1. How many cases should be ordered at a time? (This number will be the EOQ)2. How often should the coffee be ordered?3. What is the annual cost or ordering the coffee? What is the annual cost of carrying the coffee?And what is the total cost (ordering and carrying costs added together)?4. Name three reasons or factors that might cause the firm to order a larger or smaller amountthan the EOQ. Scoring – 20 possible pointsSection Possible PointsQuestion 1 – EOQ computation 4Question 2 – Frequency of…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